Insider Selling: Xencor, Inc. (NASDAQ:XNCR) CEO Sells $80,851.32 in Stock

Xencor, Inc. (NASDAQ:XNCR) CEO Bassil I. Dahiyat sold 3,366 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $24.02, for a total transaction of $80,851.32. Following the transaction, the chief executive officer now owns 352,615 shares of the company’s stock, valued at approximately $8,469,812.30. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Xencor Price Performance

Shares of XNCR opened at $23.07 on Friday. Xencor, Inc. has a 52-week low of $15.31 and a 52-week high of $26.84. 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 fifty day simple moving average of $21.12 and a two-hundred day simple moving average of $20.40.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $14.59 million. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. Xencor’s quarterly revenue was down 81.9% on a year-over-year basis. Analysts predict that Xencor, Inc. will post -3.79 EPS for the current year.

Institutional Trading of Xencor

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. grew its position in Xencor by 147.3% in the third quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock worth $62,748,000 after acquiring an additional 1,858,440 shares during the period. Darwin Global Management Ltd. purchased a new position in shares of Xencor during the 1st quarter worth $24,557,000. Logos Global Management LP increased its position in shares of Xencor by 130.8% during the 2nd quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $28,395,000 after purchasing an additional 850,000 shares during the last quarter. RA Capital Management L.P. acquired a new stake in shares of Xencor during the 3rd quarter worth about $11,563,000. Finally, RTW Investments LP purchased a new stake in Xencor in the 3rd quarter valued at about $11,563,000.

Wall Street Analysts Forecast Growth

XNCR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price objective on Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Wedbush restated an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a report on Thursday, November 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $34.00 target price (up previously from $32.00) on shares of Xencor in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.