Insider Selling: Xencor, Inc. (NASDAQ:XNCR) CEO Sells 3,366 Shares of Stock

Xencor, Inc. (NASDAQ:XNCR) CEO Bassil I. Dahiyat sold 3,366 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $24.02, for a total value of $80,851.32. Following the completion of the sale, the chief executive officer now directly owns 352,615 shares of the company’s stock, valued at $8,469,812.30. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Xencor Trading Down 3.0 %

Shares of XNCR traded down $0.70 during trading hours on Friday, hitting $22.80. The company had a trading volume of 264,087 shares, compared to its average volume of 599,219. The stock’s 50 day moving average price is $20.84 and its 200 day moving average price is $20.37. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01. Xencor, Inc. has a 52-week low of $15.31 and a 52-week high of $26.84. The firm has a market cap of $1.60 billion, a P/E ratio of -7.34 and a beta of 0.66.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.27. The business had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The company’s revenue was down 81.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.40) EPS. On average, research analysts predict that Xencor, Inc. will post -3.79 EPS for the current year.

Hedge Funds Weigh In On Xencor

Institutional investors and hedge funds have recently modified their holdings of the stock. Texas Permanent School Fund Corp raised its holdings in shares of Xencor by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 53,277 shares of the biopharmaceutical company’s stock valued at $1,179,000 after purchasing an additional 690 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of Xencor by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 43,643 shares of the biopharmaceutical company’s stock worth $826,000 after acquiring an additional 699 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Xencor by 3.3% in the 2nd quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company’s stock worth $445,000 after purchasing an additional 744 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Xencor by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the biopharmaceutical company’s stock worth $587,000 after buying an additional 900 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Xencor by 8.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,156 shares of the biopharmaceutical company’s stock worth $244,000 after buying an additional 949 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and set a $34.00 price target (up from $32.00) on shares of Xencor in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of Xencor in a report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their target price on Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.75.

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.