Xencor, Inc. (NASDAQ:XNCR) Short Interest Up 127,291.3% in July

Key Points

• Xencor, Inc. saw a dramatic increase in short interest in July, rising by 127,291.3% from 6,900 shares to 8,790,000 shares, resulting in a days-to-cover ratio of 10.4 days based on average daily volume.
• Directors Richard J. Ranieri and Kurt A. Gustafson each sold 2,993 shares of Xencor stock at an average price of $9.22, marking decreases of 13.50% and 12.91% in their respective holdings.
• Xencor's stock is currently priced at $8.01, down from a 52-week high of $27.24, while analysts have mixed ratings, with recent targets ranging from $6.00 to $31.00.

Xencor, Inc. (NASDAQ:XNCR - Get Free Report) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 8,790,000 shares, anincreaseof127,291.3% from the June 30th total of 6,900 shares. Based on an average daily volume of 848,400 shares, the short-interest ratio is presently 10.4 days. Based on an average daily volume of 848,400 shares, the short-interest ratio is presently 10.4 days.

Insider Transactions at Xencor

In other Xencor news, Director Richard J. Ranieri sold 2,993 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $9.22, for a total value of $27,595.46. Following the sale, the director owned 19,183 shares of the company's stock, valued at approximately $176,867.26. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ellen Feigal sold 2,993 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $9.22, for a total value of $27,595.46. Following the completion of the transaction, the director owned 19,183 shares of the company's stock, valued at $176,867.26. The trade was a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,194 shares of company stock worth $103,209. Company insiders own 5.23% of the company's stock.

Hedge Funds Weigh In On Xencor

Hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC lifted its stake in Xencor by 732.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 1,040 shares during the last quarter. New York State Teachers Retirement System raised its holdings in Xencor by 2.1% during the 1st quarter. New York State Teachers Retirement System now owns 59,326 shares of the biopharmaceutical company's stock valued at $631,000 after acquiring an additional 1,200 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of Xencor by 22.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,045 shares of the biopharmaceutical company's stock worth $162,000 after acquiring an additional 1,282 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Xencor during the fourth quarter worth $34,000. Finally, Corebridge Financial Inc. lifted its position in shares of Xencor by 5.1% during the fourth quarter. Corebridge Financial Inc. now owns 35,946 shares of the biopharmaceutical company's stock worth $826,000 after acquiring an additional 1,743 shares in the last quarter.

Wall Street Analysts Forecast Growth

XNCR has been the subject of several research analyst reports. Barclays lowered their price objective on Xencor from $22.00 to $6.00 and set an "underweight" rating for the company in a research report on Thursday, May 8th. William Blair initiated coverage on Xencor in a research report on Monday, April 21st. They issued an "outperform" rating for the company. Finally, Wedbush reissued an "outperform" rating and issued a $31.00 price objective on shares of Xencor in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $28.00.

Xencor Stock Up 2.4%

Shares of XNCR traded up $0.19 during trading hours on Tuesday, hitting $8.14. The stock had a trading volume of 173,448 shares, compared to its average volume of 760,269. The firm has a market capitalization of $579.32 million, a P/E ratio of -2.66 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.89 and a quick ratio of 5.89. Xencor has a 1-year low of $7.16 and a 1-year high of $27.24. The firm has a 50 day simple moving average of $8.68 and a 200-day simple moving average of $11.23.

Xencor (NASDAQ:XNCR - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.06). Xencor had a negative return on equity of 31.94% and a negative net margin of 181.17%. The company had revenue of $32.73 million for the quarter, compared to the consensus estimate of $23.44 million. During the same period in the prior year, the firm posted ($1.11) earnings per share. The business's revenue for the quarter was up 104.6% on a year-over-year basis. Sell-side analysts predict that Xencor will post -3.68 EPS for the current fiscal year.

About Xencor

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.