Xencor (NASDAQ:XNCR) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Shares of Xencor, Inc. (NASDAQ:XNCR) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.02 and traded as low as $11.90. Xencor shares last traded at $12.20, with a volume of 871,476 shares trading hands.

Analyst Ratings Changes

XNCR has been the topic of several analyst reports. Zacks Research cut shares of Xencor from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xencor in a research report on Friday, March 27th. JPMorgan Chase & Co. lifted their target price on Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Wall Street Zen lowered Xencor from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Finally, Barclays increased their price target on Xencor from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.50.

Xencor Stock Performance

The stock’s 50 day moving average price is $12.11 and its 200 day moving average price is $12.95. The company has a market capitalization of $937.13 million, a P/E ratio of -5.52 and a beta of 0.92.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.96). The firm had revenue of $4.52 million for the quarter, compared to the consensus estimate of $27.86 million. Xencor had a negative return on equity of 28.77% and a negative net margin of 177.10%.Xencor’s quarterly revenue was down 86.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.66) EPS. On average, analysts expect that Xencor, Inc. will post -3.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Primecap Management Co. CA grew its stake in Xencor by 1.4% during the third quarter. Primecap Management Co. CA now owns 10,675,022 shares of the biopharmaceutical company’s stock worth $125,218,000 after purchasing an additional 147,700 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Xencor by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 7,165,450 shares of the biopharmaceutical company’s stock worth $109,703,000 after buying an additional 61,692 shares in the last quarter. BVF Inc. IL boosted its holdings in shares of Xencor by 160.3% during the 4th quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company’s stock worth $109,217,000 after buying an additional 4,393,579 shares in the last quarter. RTW Investments LP grew its position in shares of Xencor by 8.9% during the 4th quarter. RTW Investments LP now owns 6,777,461 shares of the biopharmaceutical company’s stock worth $103,763,000 after buying an additional 556,407 shares during the period. Finally, State Street Corp grew its position in shares of Xencor by 22.7% during the 4th quarter. State Street Corp now owns 4,507,254 shares of the biopharmaceutical company’s stock worth $69,006,000 after buying an additional 833,423 shares during the period.

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.