Xencor, Inc. (NASDAQ:XNCR – Get Free Report)’s share price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $26.52, but opened at $24.47. Xencor shares last traded at $22.16, with a volume of 470,949 shares changing hands.
The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.67). The company had revenue of $44.70 million during the quarter, compared to analysts’ expectations of $77.63 million. Xencor had a negative net margin of 81.94% and a negative return on equity of 17.26%. The company’s revenue for the quarter was up 106.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.20) earnings per share.
Analyst Ratings Changes
Several research analysts have commented on the stock. Guggenheim decreased their price target on shares of Xencor from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. StockNews.com raised shares of Xencor from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. BMO Capital Markets decreased their price target on shares of Xencor from $38.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wedbush cut their target price on shares of Xencor from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Mizuho cut their target price on shares of Xencor from $59.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, January 22nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.71.
Insider Activity at Xencor
In related news, VP John R. Desjarlais sold 54,108 shares of Xencor stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $19.38, for a total value of $1,048,613.04. Following the sale, the vice president now owns 161,675 shares in the company, valued at $3,133,261.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP John R. Desjarlais sold 54,108 shares of Xencor stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $19.38, for a total value of $1,048,613.04. Following the sale, the vice president now owns 161,675 shares in the company, valued at $3,133,261.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bassil I. Dahiyat sold 45,000 shares of Xencor stock in a transaction on Friday, December 29th. The shares were sold at an average price of $20.93, for a total transaction of $941,850.00. Following the completion of the sale, the chief executive officer now owns 312,929 shares in the company, valued at approximately $6,549,603.97. The disclosure for this sale can be found here. 4.97% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Xencor
Hedge funds have recently bought and sold shares of the company. CWM LLC boosted its stake in Xencor by 498.7% in the 4th quarter. CWM LLC now owns 1,377 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 1,147 shares in the last quarter. Parallel Advisors LLC lifted its stake in Xencor by 303.9% during the 4th quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 1,015 shares during the period. BluePath Capital Management LLC bought a new position in Xencor during the 3rd quarter valued at about $31,000. China Universal Asset Management Co. Ltd. lifted its stake in Xencor by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,548 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 756 shares during the period. Finally, Signaturefd LLC lifted its stake in Xencor by 367.7% during the 4th quarter. Signaturefd LLC now owns 1,464 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 1,151 shares during the period.
Xencor Trading Down 13.8 %
The firm has a market cap of $1.39 billion, a P/E ratio of -11.14 and a beta of 0.70. The company’s 50 day simple moving average is $20.95 and its 200-day simple moving average is $20.25.
About Xencor
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.