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

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on XNCR shares. Wall Street Zen raised shares of Xencor from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Truist Financial lowered their target price on shares of Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Wedbush lifted their price target on shares of Xencor from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note 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, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Xencor currently has an average rating of “Hold” and an average price target of $24.86.

Xencor Stock Performance

The firm’s fifty day moving average price is $19.54 and its 200 day moving average price is $14.69. The firm has a market cap of $1.95 billion, a P/E ratio of -12.10 and a beta of 0.85.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $18.89 million. During the same period in the prior year, the business posted ($0.41) EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, analysts expect that Xencor, Inc. will post -3 earnings per share for the current fiscal year.

Institutional Trading of Xencor

Institutional investors have recently modified their holdings of the company. ProShare Advisors LLC raised its position in shares of Xencor by 6.5% in the 4th quarter. ProShare Advisors LLC now owns 16,853 shares of the biopharmaceutical company’s stock valued at $258,000 after purchasing an additional 1,026 shares during the last quarter. Cerity Partners LLC increased its stake in Xencor by 3.8% during the 4th quarter. Cerity Partners LLC now owns 31,302 shares of the biopharmaceutical company’s stock valued at $479,000 after purchasing an additional 1,143 shares in the last quarter. State of Tennessee Department of Treasury increased its stake in Xencor by 6.2% during the 2nd quarter. State of Tennessee Department of Treasury now owns 30,721 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 1,784 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Xencor by 3.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 70,015 shares of the biopharmaceutical company’s stock worth $550,000 after buying an additional 2,256 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings 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 worth $44,000 after buying an additional 3,018 shares during the last quarter.

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.