Xencor, Inc. (NASDAQ:XNCR) CEO Bassil I. Dahiyat Sells 3,366 Shares

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

Xencor Stock Performance

Shares of NASDAQ XNCR traded down $0.11 during midday trading on Thursday, reaching $23.50. 1,316,729 shares of the stock were exchanged, compared to its average volume of 600,736. 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 firm has a 50-day simple moving average of $20.84 and a two-hundred day simple moving average of $20.37. Xencor, Inc. has a twelve month low of $15.31 and a twelve month high of $26.84. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -7.37 and a beta of 0.66.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping 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 business had revenue of $10.70 million during the quarter, compared to the consensus estimate of $14.59 million. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. The company’s revenue was down 81.9% compared to the same quarter last year. As a group, analysts anticipate that Xencor, Inc. will post -3.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Xencor

Institutional investors and hedge funds have recently made changes to their positions in the business. Darwin Global Management Ltd. acquired a new stake in Xencor in the 1st quarter valued at $24,557,000. Logos Global Management LP lifted its holdings in Xencor by 130.8% during the second quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $28,395,000 after purchasing an additional 850,000 shares in the last quarter. Braidwell LP acquired a new stake in shares of Xencor in the third quarter valued at about $9,380,000. Point72 Asset Management L.P. increased its stake in shares of Xencor by 52.9% during the second quarter. Point72 Asset Management L.P. now owns 1,261,789 shares of the biopharmaceutical company’s stock worth $23,886,000 after purchasing an additional 436,389 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Xencor by 9.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock worth $84,530,000 after purchasing an additional 335,881 shares during the last quarter.

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.