Xencor (NASDAQ:XNCR) Shares Down 6.6% - Should You Sell?

Key Points

• Xencor shares fell 6.6% on Monday, trading as low as $14.76 after closing at $15.85, with volume well below average.
• The company’s latest quarterly results were weak, as it reported a larger-than-expected loss of $1.71 per share and revenue of just $4.52 million, far below estimates.
• Analyst opinions are mixed, but the stock still carries a Moderate Buy consensus rating and an average price target of $24.25, even as some firms have issued sell or hold calls.

Shares of Xencor, Inc. (NASDAQ:XNCR - Get Free Report) were down 6.6% on Monday . The company traded as low as $14.76 and last traded at $14.8050. Approximately 147,583 shares traded hands during trading, a decline of 82% from the average session volume of 802,951 shares. The stock had previously closed at $15.85.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Xencor in a research note on Wednesday, June 24th. Wall Street Zen cut Xencor from a "hold" rating to a "strong sell" rating in a report on Saturday, May 9th. Zacks Research upgraded shares of Xencor from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Truist Financial lowered their price objective on shares of Xencor from $29.00 to $27.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Xencor from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $24.25.

Xencor Price Performance

The company has a market cap of $1.10 billion, a P/E ratio of -6.48 and a beta of 0.86. The stock has a fifty day moving average price of $12.92 and a two-hundred day moving average price of $12.77.

Xencor (NASDAQ:XNCR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.96). Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The company had revenue of $4.52 million for the quarter, compared to the consensus estimate of $27.86 million. During the same quarter last year, the business posted ($0.66) earnings per share. Xencor's revenue was down 86.2% on a year-over-year basis. Equities analysts predict that Xencor, Inc. will post -3.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xencor

Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in Xencor by 118.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company's stock worth $44,000 after acquiring an additional 3,018 shares during the period. E Fund Management Co. Ltd. purchased a new stake in shares of Xencor during the 2nd quarter valued at $79,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Xencor during the 4th quarter valued at $81,000. iSAM Funds UK Ltd purchased a new position in shares of Xencor in the 2nd quarter worth about $122,000. Finally, Prelude Capital Management LLC bought a new position in Xencor during the third quarter valued at about $139,000.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor's research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.

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