Xencor (NASDAQ:XNCR) Hits New 1-Year High – Here’s What Happened

Xencor, Inc. (NASDAQ:XNCR) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.22 and last traded at $22.10, with a volume of 1109982 shares trading hands. The stock had previously closed at $21.58.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on XNCR. Wall Street Zen raised shares of Xencor from a “strong sell” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada upped their target price on Xencor from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a research note on Wednesday, June 24th. Zacks Research raised Xencor from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. boosted their price target on Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.86.

Xencor Stock Performance

The stock’s fifty day simple moving average is $16.11 and its 200-day simple moving average is $13.50. The stock has a market cap of $1.64 billion, a P/E ratio of -10.18 and a beta of 0.85.

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

Hedge Funds Weigh In On Xencor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its position in Xencor by 6.5% in the fourth quarter. ProShare Advisors LLC now owns 16,853 shares of the biopharmaceutical company’s stock valued at $258,000 after buying an additional 1,026 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Xencor by 3.8% during the fourth quarter. Cerity Partners LLC now owns 31,302 shares of the biopharmaceutical company’s stock worth $479,000 after buying an additional 1,143 shares during the last quarter. 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 buying an additional 1,784 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Xencor by 3.3% during 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 in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Xencor by 118.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 3,018 shares during the last quarter.

Xencor Company Profile

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.