Xencor (NASDAQ:XNCR) Shares Down 7.4% - What's Next?

Xencor, Inc. (NASDAQ:XNCR - Get Free Report)'s stock price traded down 7.4% during mid-day trading on Tuesday . The stock traded as low as $9.97 and last traded at $9.86. 367,591 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 595,671 shares. The stock had previously closed at $10.64.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Xencor from $37.00 to $33.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. StockNews.com cut Xencor from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Xencor presently has an average rating of "Moderate Buy" and a consensus target price of $34.38.

Xencor Stock Down 2.6 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23. The company has a market capitalization of $612.31 million, a price-to-earnings ratio of -2.72 and a beta of 0.90. The firm has a 50-day moving average price of $14.51 and a two-hundred day moving average price of $19.69.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its stake in shares of Xencor by 732.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 1,040 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Xencor during the fourth quarter worth $34,000. GAMMA Investing LLC raised its position in Xencor by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 508 shares in the last quarter. Quarry LP lifted its stake in Xencor by 111.4% in the third quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company's stock valued at $80,000 after acquiring an additional 2,108 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Xencor by 26.0% in the 4th quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company's stock valued at $90,000 after acquiring an additional 813 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.