Xencor (NASDAQ:XNCR) Trading Up 7.8% After Better-Than-Expected Earnings

Xencor, Inc. (NASDAQ:XNCR)’s share price was up 7.8% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $15.62 and last traded at $15.50. Approximately 62,648 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 485,598 shares. The stock had previously closed at $14.38.

The biopharmaceutical company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.19. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The company had revenue of $52.79 million for the quarter, compared to analyst estimates of $17.14 million.

Analyst Upgrades and Downgrades

XNCR has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a research report on Thursday, November 7th. StockNews.com lowered Xencor from a “hold” rating to a “sell” rating in a research report on Wednesday. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and increased their price target for the company from $20.00 to $30.00 in a report on Monday, December 2nd. Finally, Wells Fargo & Company started coverage on Xencor in a research note on Thursday, December 12th. They set an “overweight” rating and a $37.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.88.

Insider Activity

In other Xencor news, Director Alan Bruce Montgomery sold 1,421 shares of Xencor stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $27.03, for a total value of $38,409.63. Following the completion of the transaction, the director now directly owns 9,140 shares in the company, valued at $247,054.20. The trade was a 13.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Xencor by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 508 shares during the last quarter. KBC Group NV increased its holdings in shares of Xencor by 26.0% in the 4th quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 813 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its stake in Xencor by 8.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,156 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 949 shares during the period. Sterling Capital Management LLC grew its position in Xencor by 732.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,040 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in shares of Xencor by 22.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,045 shares of the biopharmaceutical company’s stock valued at $162,000 after purchasing an additional 1,282 shares during the period.

Xencor Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23. The stock has a fifty day moving average price of $19.79 and a two-hundred day moving average price of $20.68. The company has a market cap of $1.05 billion, a P/E ratio of -4.68 and a beta of 0.70.

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.