Xencor (NASDAQ:XNCR) Trading Down 13.3% - Should You Sell?

Key Points

• Xencor's shares fell by 13.3% during mid-day trading, reaching a low of $12.49, with a significant drop in trading volume compared to the average.
• Analysts have set a new consensus price target of $24.22, with ratings ranging from "Strong Buy" to "Sell," reflecting mixed sentiments about the stock's future performance.
• The company's recent quarterly earnings report showed a revenue increase of 82.4% year-over-year, with earnings per share surpassing estimates, but it still reported a negative net margin.

Xencor, Inc. (NASDAQ:XNCR - Get Free Report) shares were down 13.3% during mid-day trading on Tuesday . The company traded as low as $12.49 and last traded at $12.10. Approximately 371,899 shares changed hands during trading, a decline of 54% from the average daily volume of 815,631 shares. The stock had previously closed at $13.96.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays began coverage on shares of Xencor in a research note on Wednesday, September 17th. They issued an "underweight" rating and a $6.00 price objective on the stock. Bank of America lowered shares of Xencor from a "buy" rating to a "neutral" rating and decreased their price target for the company from $23.00 to $12.00 in a research note on Wednesday, September 3rd. Wells Fargo & Company lowered their target price on shares of Xencor from $33.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Xencor in a research note on Tuesday. Finally, Royal Bank Of Canada dropped their price objective on Xencor from $32.00 to $15.00 and set an "outperform" rating on the stock in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.22.

Xencor Price Performance

The business has a 50 day moving average price of $9.31 and a 200 day moving average price of $9.04. The stock has a market capitalization of $915.04 million, a PE ratio of -5.41 and a beta of 0.96.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, topping analysts' consensus estimates of ($0.78) by $0.37. The company had revenue of $43.61 million during the quarter, compared to analyst estimates of $22.59 million. Xencor had a negative net margin of 121.52% and a negative return on equity of 25.75%. The firm's revenue for the quarter was up 82.4% on a year-over-year basis. During the same period in the previous year, the business earned ($1.07) EPS. On average, equities analysts expect that Xencor, Inc. will post -3.68 earnings per share for the current year.

Hedge Funds Weigh In On Xencor

Institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in 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 buying an additional 8,581 shares during the last quarter. Invesco Ltd. increased its stake in shares of Xencor by 44.3% in the 1st quarter. Invesco Ltd. now owns 656,201 shares of the biopharmaceutical company's stock worth $6,982,000 after purchasing an additional 201,456 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Xencor by 89.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 726,734 shares of the biopharmaceutical company's stock worth $7,732,000 after purchasing an additional 344,088 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Xencor during the first quarter valued at about $1,655,000. Finally, US Bancorp DE increased its position in Xencor by 312.0% in the first quarter. US Bancorp DE now owns 10,432 shares of the biopharmaceutical company's stock worth $111,000 after buying an additional 7,900 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.