Xencor (NASDAQ:XNCR) Stock Price Up 3.9% – Here’s What Happened

Shares of Xencor, Inc. (NASDAQ:XNCR) rose 3.9% during mid-day trading on Thursday . The company traded as high as $13.62 and last traded at $13.65. Approximately 104,913 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 560,192 shares. The stock had previously closed at $13.14.

Wall Street Analysts Forecast Growth

XNCR has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Xencor from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $20.00 to $30.00 in a research report on Monday, December 2nd. Finally, StockNews.com cut shares of Xencor from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Xencor has a consensus rating of “Moderate Buy” and a consensus target price of $34.38.

Xencor Stock Performance

The firm has a market capitalization of $930.10 million, a price-to-earnings ratio of -4.13 and a beta of 0.75. The stock’s fifty day moving average is $16.36 and its two-hundred day moving average is $20.28. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01.

Xencor (NASDAQ:XNCR) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.19. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The business had revenue of $52.79 million for the quarter, compared to the consensus estimate of $17.14 million. On average, analysts predict that Xencor, Inc. will post -3.68 earnings per share for the current year.

Institutional Investors Weigh In On Xencor

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Xencor by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 8,017,366 shares of the biopharmaceutical company’s stock valued at $184,239,000 after acquiring an additional 418,040 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Xencor by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,036,412 shares of the biopharmaceutical company’s stock worth $92,758,000 after purchasing an additional 107,350 shares during the period. Point72 Asset Management L.P. lifted its position in Xencor by 147.3% during the third quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock worth $62,748,000 after purchasing an additional 1,858,440 shares during the period. TCG Crossover Management LLC lifted its position in Xencor by 1.0% during the fourth quarter. TCG Crossover Management LLC now owns 2,452,138 shares of the biopharmaceutical company’s stock worth $56,350,000 after purchasing an additional 25,000 shares during the period. Finally, RTW Investments LP lifted its position in Xencor by 317.9% during the fourth quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company’s stock worth $55,218,000 after purchasing an additional 1,827,883 shares during the period.

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.