Xencor, Inc. (NASDAQ:XNCR) CEO Bassil I. Dahiyat Sells 49,278 Shares

Xencor, Inc. (NASDAQ:XNCR) CEO Bassil I. Dahiyat sold 49,278 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $24.07, for a total transaction of $1,186,121.46. Following the sale, the chief executive officer now owns 352,615 shares of the company’s stock, valued at $8,487,443.05. This represents a 12.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Xencor Stock Up 4.2 %

Shares of NASDAQ:XNCR opened at $26.06 on Tuesday. The firm has a market capitalization of $1.82 billion, a PE ratio of -8.21 and a beta of 0.66. Xencor, Inc. has a 1 year low of $15.31 and a 1 year high of $26.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23. The firm’s 50-day moving average is $21.47 and its two-hundred day moving average is $20.37.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.27. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm had revenue of $10.70 million for the quarter, compared to the consensus estimate of $14.59 million. During the same period in the prior year, the firm earned ($0.40) EPS. The firm’s revenue for the quarter was down 81.9% on a year-over-year basis. Analysts predict that Xencor, Inc. will post -3.71 EPS for the current year.

Institutional Trading of Xencor

Several hedge funds have recently modified their holdings of XNCR. Jacobs Levy Equity Management Inc. acquired a new stake in Xencor in the 1st quarter valued at about $4,608,000. Price T Rowe Associates Inc. MD increased its stake in shares of Xencor by 9.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock worth $84,530,000 after buying an additional 335,881 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Xencor by 9.4% during the second quarter. Panagora Asset Management Inc. now owns 232,375 shares of the biopharmaceutical company’s stock worth $4,399,000 after buying an additional 20,043 shares during the period. Primecap Management Co. CA lifted its stake in Xencor by 0.3% in the second quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock worth $172,570,000 after acquiring an additional 25,495 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in Xencor during the 2nd quarter worth approximately $753,000.

Analyst Upgrades and Downgrades

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

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.