Xencor (NASDAQ:XNCR) Trading Down 3.9% - Here's Why

Key Points

• Xencor shares fell 3.9% to about $19.42 in mid-day trading, while volume was 74% below the stock’s average daily volume.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports a “Moderate Buy” consensus and a $24.25 average price target, despite sell and strong-sell ratings from some analysts.
• Xencor’s latest quarterly results missed expectations, with an adjusted loss of $1.71 per share versus a projected $0.75 loss and revenue of $4.52 million versus $27.86 million expected; revenue fell 86.2% year over year.

Xencor, Inc. (NASDAQ:XNCR - Get Free Report)'s stock price traded down 3.9% during mid-day trading on Monday . The company traded as low as $19.32 and last traded at $19.4240. 215,639 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 839,621 shares. The stock had previously closed at $20.21.

Wall Street Analysts Forecast Growth

XNCR has been the subject of several recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xencor in a research note on Wednesday, June 24th. JPMorgan Chase & Co. raised their price objective on Xencor from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Wall Street Zen cut Xencor from a "hold" rating to a "strong sell" rating in a research report on Saturday, May 9th. Truist Financial lowered their price target on Xencor from $29.00 to $27.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Finally, Wedbush reissued an "outperform" rating and issued a $26.00 price target on shares of Xencor in a research report on Thursday. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.25.

Xencor Price Performance

The firm has a market capitalization of $1.43 billion, a P/E ratio of -8.43 and a beta of 0.86. The business has a 50 day moving average price of $14.86 and a 200 day moving average price of $13.14.

Xencor (NASDAQ:XNCR - Get Free Report) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.96). The business had revenue of $4.52 million during the quarter, compared to analyst estimates of $27.86 million. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The business's quarterly revenue was down 86.2% compared to the same quarter last year. During the same period last year, the business earned ($0.66) EPS. As a group, equities analysts expect that Xencor, Inc. will post -3.76 EPS for the current year.

Hedge Funds Weigh In On Xencor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC bought a new stake in Xencor in the 4th quarter valued at $81,000. Tower Research Capital LLC TRC grew its position 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 buying an additional 3,018 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in Xencor during the second quarter valued at about $79,000. Norges Bank bought a new position in Xencor during the fourth quarter valued at about $175,000. Finally, Prelude Capital Management LLC acquired a new position in Xencor in the 3rd quarter valued at approximately $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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