Xencor (NASDAQ:XNCR) Stock Price Up 7.3% - Here's Why

Xencor, Inc. (NASDAQ:XNCR - Get Free Report)'s share price shot up 7.3% during trading on Wednesday . The company traded as high as $8.70 and last traded at $8.88. 52,803 shares changed hands during trading, a decline of 92% from the average session volume of 678,284 shares. The stock had previously closed at $8.27.

Wall Street Analyst Weigh In

A number of research firms have issued reports on XNCR. Barclays decreased their target price 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 started coverage on Xencor in a research report on Monday, April 21st. They set an "outperform" rating for the company. Wedbush restated an "outperform" rating and set a $31.00 target price on shares of Xencor in a research report on Wednesday, April 30th. Finally, Wall Street Zen cut Xencor from a "hold" rating to a "sell" rating in a research report on Friday, March 14th. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company's stock. According to MarketBeat, Xencor presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Xencor Trading Down 5.7%

The stock has a 50 day moving average price of $8.55 and a 200-day moving average price of $12.99. The stock has a market capitalization of $623.02 million, a PE ratio of -2.87 and a beta of 0.85. The company has a current ratio of 5.89, a quick ratio of 5.89 and a debt-to-equity ratio of 0.16.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $23.44 million. During the same period in the prior year, the business posted ($1.11) earnings per share. Xencor's revenue for the quarter was up 104.6% compared to the same quarter last year. Sell-side analysts expect that Xencor, Inc. will post -3.68 earnings per share for the current year.

Insider Transactions at Xencor

In related news, Director Ellen Feigal sold 2,993 shares of Xencor stock in a transaction dated Monday, June 16th. The stock was 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 in the company, valued at approximately $176,867.26. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kurt A. Gustafson sold 2,993 shares of Xencor stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $9.22, for a total transaction of $27,595.46. Following the sale, the director directly owned 20,183 shares of the company's stock, valued at $186,087.26. This represents a 12.91% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,810 shares of company stock worth $154,123. 4.76% of the stock is currently owned by company insiders.

Institutional Trading of Xencor

Institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. raised its stake 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 acquiring an additional 6,810 shares in the last quarter. Wellington Management Group LLP bought a new position in Xencor in the fourth quarter worth approximately $632,000. Raymond James Financial Inc. bought a new position in Xencor in the fourth quarter worth approximately $2,329,000. Amundi raised its stake in Xencor by 225.0% in the fourth quarter. Amundi now owns 35,380 shares of the biopharmaceutical company's stock worth $829,000 after buying an additional 24,494 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Xencor by 53.1% in the fourth quarter. Deutsche Bank AG now owns 58,041 shares of the biopharmaceutical company's stock worth $1,334,000 after buying an additional 20,128 shares in the last quarter.

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.