Xencor (NASDAQ:XNCR) Hits New 52-Week Low – Here’s Why

Shares of Xencor, Inc. (NASDAQ:XNCR) reached a new 52-week low on Monday . The company traded as low as $15.14 and last traded at $15.16, with a volume of 89160 shares trading hands. The stock had previously closed at $15.74.

Wall Street Analyst Weigh In

A number of equities analysts have commented on XNCR shares. Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. BMO Capital Markets restated an “outperform” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Xencor in a research report on Friday, November 8th. Wells Fargo & Company began coverage on shares of Xencor in a research note on Thursday, December 12th. They issued an “overweight” rating and a $37.00 target price for the company. Finally, Piper Sandler raised shares of Xencor from a “neutral” rating to an “overweight” rating and increased their price target for the company from $20.00 to $30.00 in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $34.88.

Xencor Stock Performance

The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.49 and a beta of 0.70. The stock’s 50 day moving average price is $19.98 and its 200 day moving average price is $20.72. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling

In other news, Director Alan Bruce Montgomery sold 1,421 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total transaction of $38,409.63. Following the completion of the sale, the director now owns 9,140 shares in the company, valued at approximately $247,054.20. This trade represents a 13.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in Xencor in the 3rd quarter valued at $540,000. Barclays PLC lifted its holdings in shares of Xencor by 100.7% during the third quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company’s stock worth $3,128,000 after buying an additional 78,066 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Xencor in the third quarter valued at about $362,000. Jane Street Group LLC grew its stake in shares of Xencor by 18.6% in the third quarter. Jane Street Group LLC now owns 168,431 shares of the biopharmaceutical company’s stock valued at $3,387,000 after acquiring an additional 26,473 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Xencor by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock worth $29,273,000 after acquiring an additional 17,658 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.