Xencor (NASDAQ:XNCR) Stock Price Down 9% – What’s Next?

Xencor, Inc. (NASDAQ:XNCR)’s share price dropped 9% on Friday . The stock traded as low as $26.08 and last traded at $26.28. Approximately 524,370 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 888,908 shares. The stock had previously closed at $28.88.

Wall Street Analysts Forecast Growth

A number of research firms have commented on XNCR. Wedbush lifted their target price on Xencor from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Cantor Fitzgerald raised their price objective on Xencor from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Truist Financial decreased their target price on shares of Xencor from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Xencor currently has an average rating of “Hold” and a consensus price target of $24.86.

Xencor Price Performance

The business has a 50 day simple moving average of $19.80 and a 200 day simple moving average of $14.77. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -12.01 and a beta of 0.85.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.51. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The firm had revenue of $51.22 million for the quarter, compared to the consensus estimate of $18.89 million. During the same quarter in the previous year, the business earned ($0.41) EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts predict that Xencor, Inc. will post -3 EPS for the current year.

Institutional Trading of Xencor

A number of institutional investors and hedge funds have recently bought and sold shares of XNCR. Tower Research Capital LLC TRC boosted its stake in shares of Xencor by 118.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 3,018 shares during the period. Allworth Financial LP purchased a new stake in Xencor during the 2nd quarter worth approximately $55,000. E Fund Management Co. Ltd. acquired a new stake in Xencor during the 2nd quarter worth approximately $79,000. iSAM Funds UK Ltd acquired a new stake in Xencor during the 2nd quarter worth approximately $122,000. Finally, Prelude Capital Management LLC purchased 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.