Xencor (NASDAQ:XNCR) Stock Price Down 4.5% Following Analyst Downgrade

Xencor, Inc. (NASDAQ:XNCR)’s stock price fell 4.5% during trading on Tuesday after BTIG Research lowered their price target on the stock from $56.00 to $38.00. BTIG Research currently has a buy rating on the stock. Xencor traded as low as $19.01 and last traded at $19.21. 131,140 shares changed hands during trading, a decline of 81% from the average session volume of 695,809 shares. The stock had previously closed at $20.11.

A number of other research firms have also commented on XNCR. BMO Capital Markets lowered their price target on shares of Xencor from $38.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Piper Sandler reissued a “neutral” rating and issued a $24.00 target price (down from $37.00) on shares of Xencor in a report on Wednesday, February 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 target price on shares of Xencor in a report on Wednesday, February 28th. Wedbush decreased their target price on shares of Xencor from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Finally, Mizuho decreased their target price on shares of Xencor from $59.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, January 22nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.00.

Insider Activity at Xencor

In related news, CEO Bassil I. Dahiyat sold 12,528 shares of Xencor stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $23.43, for a total transaction of $293,531.04. Following the sale, the chief executive officer now directly owns 300,097 shares of the company’s stock, valued at approximately $7,031,272.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Bassil I. Dahiyat sold 12,528 shares of Xencor stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $23.43, for a total transaction of $293,531.04. Following the sale, the chief executive officer now directly owns 300,097 shares in the company, valued at approximately $7,031,272.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bassil I. Dahiyat sold 2,741 shares of Xencor stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $23.50, for a total transaction of $64,413.50. Following the sale, the chief executive officer now owns 351,894 shares in the company, valued at $8,269,509. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,351 shares of company stock valued at $2,152,417. 4.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Xencor

Several hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. boosted its position in Xencor by 10.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,790 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 456 shares during the period. UBS Group AG lifted its position in shares of Xencor by 2.8% during the 3rd quarter. UBS Group AG now owns 21,376 shares of the biopharmaceutical company’s stock valued at $555,000 after acquiring an additional 581 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Xencor by 2.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,798 shares of the biopharmaceutical company’s stock valued at $654,000 after acquiring an additional 615 shares during the period. Virtus ETF Advisers LLC lifted its position in shares of Xencor by 17.2% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,363 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 641 shares during the period. Finally, Segall Bryant & Hamill LLC increased its stake in Xencor by 0.4% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 155,331 shares of the biopharmaceutical company’s stock valued at $3,879,000 after purchasing an additional 647 shares in the last quarter.

Xencor Stock Down 5.9 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.36 and a current ratio of 7.36. The firm has a market cap of $1.16 billion, a P/E ratio of -9.01 and a beta of 0.76. The stock’s 50 day simple moving average is $22.24 and its 200 day simple moving average is $20.40.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.67). The company had revenue of $44.70 million for the quarter, compared to the consensus estimate of $77.63 million. Xencor had a negative net margin of 74.90% and a negative return on equity of 18.67%. Xencor’s quarterly revenue was up 106.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) EPS. Research analysts anticipate that Xencor, Inc. will post -3.25 EPS for the current year.

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.