Xencor (NASDAQ:XNCR) Trading Up 6% - What's Next?

Key Points

• Xencor's stock price rose by 6% during mid-day trading, reaching $8.62 after previously closing at $8.13, though trading volume dropped significantly by 79% compared to its average.
• Multiple analysts have revised their target prices for Xencor, with Barclays cutting it to $6.00, while Wells Fargo maintains a target of $27.00, suggesting divergent views on the company's future performance.
• The company reported an earnings beat with a loss of ($0.41) EPS, significantly improving from the expected ($0.78), and revenue surged 82.4% year-over-year, totaling $43.61 million.

Xencor, Inc. (NASDAQ:XNCR - Get Free Report)'s stock price rose 6% during mid-day trading on Tuesday . The company traded as high as $8.64 and last traded at $8.62. Approximately 160,220 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 759,166 shares. The stock had previously closed at $8.13.

Wall Street Analysts Forecast Growth

XNCR has been the subject of a number of research analyst reports. Barclays cut their target price on shares of Xencor from $22.00 to $6.00 and set an "underweight" rating for the company in a research note on Thursday, May 8th. Royal Bank Of Canada dropped their target price on shares of Xencor from $32.00 to $15.00 and set an "outperform" rating for the company in a research report on Thursday, August 21st. Wells Fargo & Company dropped their price objective on Xencor from $33.00 to $27.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Wedbush reiterated an "outperform" rating and issued a $26.00 price objective on shares of Xencor in a research report on Tuesday. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $23.71.

Xencor Trading Up 4.3%

The firm has a market capitalization of $604.79 million, a price-to-earnings ratio of -3.54 and a beta of 0.82. The company's 50 day moving average is $8.28 and its 200-day moving average is $9.77.

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

Insiders Place Their Bets

In other Xencor news, Director Kurt A. Gustafson sold 2,993 shares of the firm's 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 completion of the sale, the director directly owned 20,183 shares in the company, valued at $186,087.26. This trade represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ellen Feigal sold 2,993 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $9.22, for a total transaction of $27,595.46. Following the sale, the director owned 19,183 shares of the company's stock, valued at $176,867.26. This trade represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,194 shares of company stock worth $103,209 over the last three months. Insiders own 5.23% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System increased its holdings in shares of Xencor by 2.1% during the first quarter. New York State Teachers Retirement System now owns 59,326 shares of the biopharmaceutical company's stock worth $631,000 after purchasing an additional 1,200 shares during the period. HighVista Strategies LLC increased its holdings in shares of Xencor by 4.3% during the second quarter. HighVista Strategies LLC now owns 33,304 shares of the biopharmaceutical company's stock worth $262,000 after purchasing an additional 1,362 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Xencor during the fourth quarter worth approximately $34,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Xencor by 9.1% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,272 shares of the biopharmaceutical company's stock worth $144,000 after purchasing an additional 1,525 shares during the period. Finally, State of Tennessee Department of Treasury increased its holdings in shares of Xencor by 6.2% during the second quarter. State of Tennessee Department of Treasury now owns 30,721 shares of the biopharmaceutical company's stock worth $241,000 after purchasing an additional 1,784 shares during the period.

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.

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