Xencor (NASDAQ:XNCR) Stock Price Down 9.3% – Should You Sell?

Xencor, Inc. (NASDAQ:XNCR)’s stock price dropped 9.3% during trading on Friday . The stock traded as low as $21.25 and last traded at $21.25. Approximately 162,225 shares changed hands during trading, a decline of 63% from the average daily volume of 438,085 shares. The stock had previously closed at $23.43.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. Wells Fargo & Company assumed coverage on shares of Xencor in a research note on Thursday, December 12th. They set an “overweight” rating and a $37.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. BMO Capital Markets reiterated an “outperform” rating and set a $34.00 target price (up from $32.00) on shares of Xencor in a research report on Friday, November 8th. Finally, Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $36.56.

Xencor Price Performance

The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -6.59 and a beta of 0.72. The stock’s 50-day moving average price is $24.19 and its 200-day moving average price is $20.98.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.27. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. The firm’s revenue for the quarter was down 81.9% compared to the same quarter last year. Equities research analysts anticipate that Xencor, Inc. will post -3.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP John R. Desjarlais sold 68,684 shares of Xencor stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $23.48, for a total transaction of $1,612,700.32. Following the transaction, the vice president now owns 200,104 shares in the company, valued at $4,698,441.92. The trade was a 25.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alan Bruce Montgomery sold 1,421 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $27.03, for a total transaction of $38,409.63. Following the sale, the director now owns 9,140 shares in the company, valued at $247,054.20. This trade represents a 13.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,050 shares of company stock worth $3,277,609. Insiders own 5.23% of the company’s stock.

Institutional Trading of Xencor

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. lifted its stake in Xencor by 147.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock valued at $62,748,000 after acquiring an additional 1,858,440 shares in the last quarter. Logos Global Management LP grew its position in Xencor by 130.8% in the second quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $28,395,000 after purchasing an additional 850,000 shares in the last quarter. RA Capital Management L.P. acquired a new stake in Xencor in the 3rd quarter valued at $11,563,000. RTW Investments LP bought a new stake in Xencor during the 3rd quarter worth about $11,563,000. Finally, Braidwell LP acquired a new position in shares of Xencor during the 3rd quarter worth about $9,380,000.

Xencor Company Profile

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.