Xencor (NASDAQ:XNCR) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Xencor (NASDAQ:XNCR) from a hold rating to a sell rating in a research report released on Wednesday morning.

XNCR has been the subject of several other research reports. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $20.00 to $30.00 in a research note on Monday, December 2nd. BMO Capital Markets reissued an “outperform” rating and set a $34.00 price target (up previously from $32.00) on shares of Xencor in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company began coverage on Xencor in a report on Thursday, December 12th. They issued an “overweight” rating and a $37.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.88.

Xencor Stock Performance

Shares of XNCR opened at $14.38 on Wednesday. Xencor has a 52 week low of $14.18 and a 52 week high of $27.24. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.01 billion, a P/E ratio of -4.49 and a beta of 0.70. The business’s 50 day moving average price is $19.98 and its 200-day moving average price is $20.72.

Insider Buying and Selling

In other Xencor news, Director Alan Bruce Montgomery sold 1,421 shares of the company’s stock in a transaction that occurred on 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 directly owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. This represents a 13.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Xencor

Hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp purchased a new position in Xencor during the fourth quarter valued at $101,000. GF Fund Management CO. LTD. bought a new position in shares of Xencor during the 4th quarter valued at approximately $34,000. Public Employees Retirement System of Ohio purchased a new stake in Xencor in the 4th quarter worth approximately $1,227,000. Woodline Partners LP raised its stake in Xencor by 0.3% during the 4th quarter. Woodline Partners LP now owns 845,916 shares of the biopharmaceutical company’s stock worth $19,439,000 after acquiring an additional 2,591 shares during the period. Finally, Teza Capital Management LLC purchased a new position in Xencor during the fourth quarter valued at approximately $210,000.

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.