Xencor (NASDAQ:XNCR) Shares Up 4.9% - Here's What Happened

Xencor, Inc. (NASDAQ:XNCR - Get Free Report)'s stock price shot up 4.9% on Tuesday . The stock traded as high as $9.39 and last traded at $9.38. 360,465 shares were traded during mid-day trading, a decline of 41% from the average session volume of 615,783 shares. The stock had previously closed at $8.94.

Analyst Upgrades and Downgrades

Several research firms have commented on XNCR. StockNews.com cut shares of Xencor from a "hold" rating to a "sell" rating in a research report on Friday, March 14th. Wells Fargo & Company decreased their price objective on Xencor from $37.00 to $33.00 and set an "overweight" rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Xencor presently has a consensus rating of "Moderate Buy" and an average price target of $33.86.

Xencor Trading Up 1.9 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. The business has a 50 day simple moving average of $12.33 and a 200-day simple moving average of $18.73. The stock has a market capitalization of $683.48 million, a P/E ratio of -3.03 and a beta of 0.90.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.19. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business had revenue of $52.79 million during the quarter, compared to analysts' expectations of $17.14 million. On average, analysts predict that Xencor, Inc. will post -3.68 EPS for the current year.

Institutional Trading of Xencor

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC boosted its holdings in Xencor by 732.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 1,040 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Xencor during the 4th quarter worth $34,000. GAMMA Investing LLC grew its holdings in shares of Xencor by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 508 shares during the last quarter. KBC Group NV raised its position in shares of Xencor by 26.0% during the fourth quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company's stock worth $90,000 after purchasing an additional 813 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Xencor by 49.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,041 shares of the biopharmaceutical company's stock worth $93,000 after purchasing an additional 1,337 shares during the period.

About Xencor

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and cytokine therapeutics to treat patients with cancer and autoimmune diseases. The company provides Sotrovimab that targets the SARS-CoV-2 virus; Ultomiris for the treatment of patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma.