Xencor (NASDAQ:XNCR) Stock Price Down 6.6% – Here’s Why

Xencor, Inc. (NASDAQ:XNCR)’s share price was down 6.6% during trading on Monday . The company traded as low as $14.76 and last traded at $14.8050. Approximately 147,583 shares changed hands during trading, a decline of 82% from the average session volume of 802,951 shares. The stock had previously closed at $15.85.

Analysts Set New Price Targets

A number of research firms have weighed in on XNCR. Weiss Ratings reissued a “sell (d-)” rating on shares of Xencor in a report on Wednesday, June 24th. Truist Financial reduced their price target on shares of Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Wall Street Zen lowered shares of Xencor from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. increased their price objective on shares of Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Finally, Zacks Research raised shares of Xencor from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.25.

Xencor Stock Performance

The company has a market capitalization of $1.11 billion, a P/E ratio of -6.53 and a beta of 0.86. The stock has a fifty day moving average of $13.03 and a 200 day moving average of $12.76.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.96). The company had revenue of $4.52 million for the quarter, compared to the consensus estimate of $27.86 million. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The business’s revenue for the quarter was down 86.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.66) EPS. Research analysts anticipate that Xencor, Inc. will post -3.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in Xencor by 118.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 3,018 shares during the period. E Fund Management Co. Ltd. purchased a new position in Xencor during the second quarter valued at approximately $79,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Xencor in the fourth quarter worth approximately $81,000. iSAM Funds UK Ltd bought a new position in shares of Xencor in the second quarter worth approximately $122,000. Finally, Prelude Capital Management LLC purchased a new stake in shares of Xencor in the third quarter worth $139,000.

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.