Xencor (NASDAQ:XNCR) Reaches New 52-Week High – What’s Next?

Xencor, Inc. (NASDAQ:XNCR) shares reached a new 52-week high during trading on Monday . The stock traded as high as $26.93 and last traded at $26.91, with a volume of 27363 shares. The stock had previously closed at $25.60.

Wall Street Analysts Forecast Growth

XNCR has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Wedbush restated an “outperform” rating and issued a $38.00 target price on shares of Xencor in a report on Thursday, November 7th. Royal Bank of Canada upped their price target on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Piper Sandler raised shares of Xencor from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $20.00 to $30.00 in a report on Monday. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $34.00 target price (up from $32.00) on shares of Xencor in a report on Friday, November 8th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Xencor presently has an average rating of “Buy” and an average price target of $36.50.

Xencor Stock Performance

The business’s 50 day moving average price is $22.19 and its two-hundred day moving average price is $20.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23.

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

Insiders Place Their Bets

In other Xencor news, VP John R. Desjarlais sold 68,684 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $23.48, for a total value of $1,612,700.32. Following the sale, the vice president now owns 200,104 shares in the company, valued at approximately $4,698,441.92. This represents a 25.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bassil I. Dahiyat sold 49,278 shares of Xencor stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $24.07, for a total transaction of $1,186,121.46. Following the transaction, the chief executive officer now owns 352,615 shares of the company’s stock, valued at $8,487,443.05. The trade was a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,328 shares of company stock worth $2,879,673. 5.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xencor

Several hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new position in shares of Xencor in the 3rd quarter worth about $540,000. Geode Capital Management LLC increased its stake in Xencor by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock valued at $29,273,000 after purchasing an additional 17,658 shares in the last quarter. Barclays PLC raised its holdings in Xencor by 100.7% in the 3rd quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company’s stock worth $3,128,000 after acquiring an additional 78,066 shares during the last quarter. XTX Topco Ltd lifted its position in Xencor by 113.2% in the 3rd quarter. XTX Topco Ltd now owns 22,080 shares of the biopharmaceutical company’s stock valued at $444,000 after acquiring an additional 11,725 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Xencor by 18.6% in the 3rd quarter. Jane Street Group LLC now owns 168,431 shares of the biopharmaceutical company’s stock worth $3,387,000 after purchasing an additional 26,473 shares in the last quarter.

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.