Xencor (NASDAQ:XNCR) Trading Down 2.7% - Here's What Happened

Xencor, Inc. (NASDAQ:XNCR - Get Free Report) fell 2.7% during mid-day trading on Tuesday . The company traded as low as $10.57 and last traded at $10.31. 20,515 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 621,287 shares. The stock had previously closed at $10.60.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Xencor from $37.00 to $33.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. StockNews.com cut Xencor from a "hold" rating to a "sell" rating in a research report on Friday, March 14th. Finally, William Blair started coverage on Xencor in a research report on Monday, April 21st. They issued an "outperform" rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.86.

Xencor Price Performance

The firm has a market capitalization of $740.56 million, a price-to-earnings ratio of -3.28 and a beta of 0.90. The stock's 50 day moving average price is $11.77 and its two-hundred day moving average price is $18.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. 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 firm had revenue of $52.79 million during the quarter, compared to analysts' expectations of $17.14 million. On average, equities research analysts anticipate that Xencor, Inc. will post -3.68 EPS for the current year.

Hedge Funds Weigh In On Xencor

Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System increased its holdings in shares of Xencor by 2.1% during the first quarter. New York State Teachers Retirement System now owns 59,326 shares of the biopharmaceutical company's stock worth $631,000 after buying an additional 1,200 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of Xencor in the 1st quarter valued at $172,000. Exchange Traded Concepts LLC raised its position in shares of Xencor by 23.9% during the first quarter. Exchange Traded Concepts LLC now owns 9,814 shares of the biopharmaceutical company's stock worth $104,000 after acquiring an additional 1,896 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Xencor by 348.5% during the first quarter. GAMMA Investing LLC now owns 9,629 shares of the biopharmaceutical company's stock worth $102,000 after acquiring an additional 7,482 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in Xencor in the fourth quarter valued at about $632,000.

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.