Xencor, Inc. (NASDAQ:XNCR – Get Free Report)’s stock price traded down 3.9% during trading on Friday . The company traded as low as $19.70 and last traded at $19.66. 67,569 shares were traded during mid-day trading, a decline of 87% from the average session volume of 537,709 shares. The stock had previously closed at $20.46.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on XNCR. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $20.00 to $30.00 in a report on Monday, December 2nd. Wells Fargo & Company assumed coverage on Xencor in a report on Thursday, December 12th. They issued an “overweight” rating and a $37.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. BMO Capital Markets reiterated an “outperform” rating and set a $34.00 target price (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. Finally, Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of Xencor in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Xencor presently has a consensus rating of “Buy” and an average target price of $34.88.
Check Out Our Latest Stock Report on XNCR
Xencor Stock Down 4.0 %
Xencor (NASDAQ:XNCR – Get Free Report) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.98) by $0.27. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm had revenue of $10.70 million during the quarter, compared to analysts’ expectations of $14.59 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. Xencor’s quarterly revenue was down 81.9% on a year-over-year basis. As a group, research analysts expect that Xencor, Inc. will post -3.68 earnings per share for the current year.
Insider Activity at Xencor
In other news, VP John R. Desjarlais sold 68,684 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 200,104 shares of the company’s stock, valued at approximately $4,698,441.92. This represents a 25.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan Bruce Montgomery sold 1,421 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total transaction of $38,409.63. Following the transaction, the director now owns 9,140 shares in the company, valued at $247,054.20. This represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,050 shares of company stock worth $3,277,609 in the last three months. 5.23% of the stock is owned by company insiders.
Institutional Investors Weigh In On Xencor
Institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its stake in shares of 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 worth $62,748,000 after buying an additional 1,858,440 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Xencor by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock worth $27,628,000 after acquiring an additional 87,979 shares during the period. Geode Capital Management LLC raised its position in Xencor by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock worth $29,273,000 after acquiring an additional 17,658 shares in the last quarter. Baker BROS. Advisors LP lifted its holdings in Xencor by 22.9% in the 3rd quarter. Baker BROS. Advisors LP now owns 670,431 shares of the biopharmaceutical company’s stock valued at $13,482,000 after acquiring an additional 125,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Xencor by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 626,988 shares of the biopharmaceutical company’s stock valued at $12,609,000 after purchasing an additional 40,788 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.
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