Xencor, Inc. (NASDAQ:XNCR) Short Interest Update

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) was the recipient of a large increase in short interest in 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 days-to-cover ratio is currently 10.4 days. Based on an average daily volume of 848,400 shares, the days-to-cover ratio is currently 10.4 days.

Insider Buying and Selling at Xencor

In other Xencor news, Director Richard J. Ranieri sold 2,993 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $9.22, for a total transaction of $27,595.46. Following the completion of the sale, the director owned 19,183 shares in the company, valued at $176,867.26. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kurt A. Gustafson sold 2,993 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 20,183 shares of the company's stock, valued at approximately $186,087.26. This trade represents a 12.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,194 shares of company stock worth $103,209 in the last 90 days. 4.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. increased its holdings in shares of Xencor by 2.5% during the first quarter. Principal Financial Group Inc. now owns 348,726 shares of the biopharmaceutical company's stock valued at $3,710,000 after purchasing an additional 8,581 shares during the period. Prudential Financial Inc. increased its holdings in shares of Xencor by 10.7% during the fourth quarter. Prudential Financial Inc. now owns 70,715 shares of the biopharmaceutical company's stock valued at $1,625,000 after purchasing an additional 6,810 shares during the period. Wellington Management Group LLP acquired a new position in shares of Xencor during the fourth quarter valued at $632,000. Raymond James Financial Inc. acquired a new position in shares of Xencor during the fourth quarter valued at $2,329,000. Finally, Deutsche Bank AG increased its holdings in shares of Xencor by 53.1% during the fourth quarter. Deutsche Bank AG now owns 58,041 shares of the biopharmaceutical company's stock valued at $1,334,000 after purchasing an additional 20,128 shares during the period.

Xencor Stock Performance

NASDAQ XNCR traded down $0.32 during trading hours on Friday, hitting $8.01. The company had a trading volume of 384,932 shares, compared to its average volume of 761,682. Xencor has a fifty-two week low of $7.16 and a fifty-two week high of $27.24. The company has a quick ratio of 5.89, a current ratio of 5.89 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $8.67 and a 200-day simple moving average of $11.50. The firm has a market cap of $569.72 million, a P/E ratio of -2.62 and a beta of 0.85.

Xencor (NASDAQ:XNCR - Get Free Report) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $23.44 million. During the same period in the prior year, the business earned ($1.11) earnings per share. Xencor's quarterly revenue was up 104.6% on a year-over-year basis. Equities analysts predict that Xencor will post -3.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on XNCR shares. Barclays lowered their price target on Xencor from $22.00 to $6.00 and set an "underweight" rating for the company in a report on Thursday, May 8th. William Blair assumed coverage on Xencor in a research note on Monday, April 21st. They set an "outperform" rating on the stock. Finally, Wedbush restated an "outperform" rating and set a $31.00 price objective on shares of Xencor in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.00.

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.

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