Short Interest in Xencor, Inc. (NASDAQ:XNCR) Increases By 24.8%

Xencor, Inc. (NASDAQ:XNCR) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 5,830,000 shares, an increase of 24.8% from the August 31st total of 4,670,000 shares. Based on an average daily trading volume, of 530,700 shares, the short-interest ratio is presently 11.0 days.

Analysts Set New Price Targets

XNCR has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price objective on Xencor from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Raymond James cut their price objective on Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research report on Friday, June 14th. Royal Bank of Canada raised their target price on Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday. BMO Capital Markets reiterated an “outperform” rating and set a $32.00 price target on shares of Xencor in a research report on Tuesday, August 6th. Finally, Wedbush restated an “outperform” rating and issued a $34.00 price objective on shares of Xencor in a research report on Monday, September 9th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Xencor presently has a consensus rating of “Moderate Buy” and an average price target of $34.78.

Insider Buying and Selling

In other Xencor news, VP John R. Desjarlais sold 36,329 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $18.32, for a total value of $665,547.28. Following the sale, the vice president now owns 192,319 shares of the company’s stock, valued at approximately $3,523,284.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Xencor

Several hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its holdings in Xencor by 303.9% during the 4th quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 1,015 shares during the period. Quarry LP purchased a new stake in shares of Xencor in the 2nd quarter valued at $36,000. GAMMA Investing LLC grew its position in shares of Xencor by 153.7% in the 1st quarter. GAMMA Investing LLC now owns 2,172 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 1,316 shares during the last quarter. Quest Partners LLC purchased a new position in Xencor during the 4th quarter valued at $61,000. Finally, SG Americas Securities LLC purchased a new position in shares of Xencor during the second quarter valued at about $154,000.

Xencor Price Performance

NASDAQ:XNCR opened at $20.25 on Friday. The stock has a market capitalization of $1.25 billion, a PE ratio of -9.25 and a beta of 0.66. The firm has a fifty day simple moving average of $18.61 and a 200 day simple moving average of $20.35. Xencor has a 1-year low of $15.31 and a 1-year high of $26.84. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.02.

Xencor (NASDAQ:XNCR) last released its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.25). Xencor had a negative net margin of 132.74% and a negative return on equity of 28.23%. The business had revenue of $16.96 million during the quarter, compared to the consensus estimate of $21.13 million. During the same quarter in the prior year, the company earned ($0.37) EPS. Xencor’s quarterly revenue was down 62.7% on a year-over-year basis. On average, research analysts expect that Xencor will post -4.15 EPS for the current fiscal year.

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.