Xencor (NASDAQ:XNCR) Trading 9.3% Higher - Here's What Happened

Xencor, Inc. (NASDAQ:XNCR - Get Free Report) shares traded up 9.3% on Monday . The stock traded as high as $10.76 and last traded at $10.61. 105,628 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 688,287 shares. The stock had previously closed at $9.70.

Wall Street Analysts Forecast Growth

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

Xencor Price Performance

The company has a 50-day moving average price of $11.77 and a 200-day moving average price of $18.43. The firm has a market capitalization of $740.56 million, a P/E ratio of -3.28 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.19. The company had revenue of $52.79 million during the quarter, compared to analyst estimates of $17.14 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. On average, sell-side analysts predict that Xencor, Inc. will post -3.68 earnings per share for the current year.

Institutional Investors Weigh In On Xencor

Several hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC increased its position in shares of Xencor by 732.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 1,040 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Xencor in the fourth quarter valued at about $34,000. GAMMA Investing LLC increased its holdings in shares of Xencor by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 508 shares in the last quarter. KBC Group NV raised its position in shares of Xencor by 26.0% during the fourth quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company's stock worth $90,000 after purchasing an additional 813 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Xencor by 49.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,041 shares of the biopharmaceutical company's stock valued at $93,000 after purchasing an additional 1,337 shares in the last quarter.

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.