Xencor (NASDAQ:XNCR) Shares Pass Above 50 Day Moving Average – What’s Next?

Xencor, Inc. (NASDAQ:XNCR)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $12.39 and traded as high as $15.62. Xencor shares last traded at $15.60, with a volume of 749,505 shares.

Analyst Ratings Changes

XNCR has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Xencor from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Zacks Research cut shares of Xencor from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Xencor in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. lifted their target price on Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $24.50.

Xencor Trading Up 3.7%

The stock has a market cap of $1.16 billion, a P/E ratio of -6.81 and a beta of 0.92. The firm’s 50-day simple moving average is $12.39 and its 200 day simple moving average is $12.82.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.96). The firm had revenue of $4.52 million during the quarter, compared to analyst estimates of $27.86 million. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. Xencor’s revenue for the quarter was down 86.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.66) EPS. On average, analysts anticipate that Xencor, Inc. will post -3.84 EPS for the current year.

Institutional Trading of Xencor

Large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new position in Xencor during the 4th quarter worth $81,000. Tower Research Capital LLC TRC grew its stake in shares of Xencor by 118.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 3,018 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Xencor during the second quarter valued at $79,000. NorthCrest Asset Manangement LLC acquired a new position in shares of Xencor during the fourth quarter valued at $149,000. Finally, Norges Bank bought a new stake in shares of Xencor during the fourth quarter valued at about $175,000.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.