Xencor (NASDAQ:XNCR) CEO Bassil Dahiyat Sells 114,377 Shares of Stock

Xencor, Inc. (NASDAQ:XNCR) CEO Bassil Dahiyat sold 114,377 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $15.71, for a total value of $1,796,862.67. Following the completion of the sale, the chief executive officer directly owned 466,635 shares in the company, valued at $7,330,835.85. This represents a 19.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Xencor Stock Performance

Shares of NASDAQ XNCR opened at $15.44 on Friday. The stock’s 50-day simple moving average is $15.50 and its 200-day simple moving average is $11.39. The firm has a market capitalization of $1.10 billion, a PE ratio of -8.72 and a beta of 0.96. Xencor, Inc. has a fifty-two week low of $6.92 and a fifty-two week high of $24.91.

Xencor (NASDAQ:XNCR) last posted its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.64. The business had revenue of $21.00 million for the quarter, compared to analysts’ expectations of $29.73 million. Xencor had a negative return on equity of 20.44% and a negative net margin of 87.14%.The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.71) earnings per share. On average, sell-side analysts forecast that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xencor

Several institutional investors and hedge funds have recently modified their holdings of the company. Primecap Management Co. CA grew its position in shares of Xencor by 1.4% in the third quarter. Primecap Management Co. CA now owns 10,675,022 shares of the biopharmaceutical company’s stock valued at $125,218,000 after purchasing an additional 147,700 shares during the period. BVF Inc. IL grew its holdings in Xencor by 19.7% in the 1st quarter. BVF Inc. IL now owns 2,740,141 shares of the biopharmaceutical company’s stock valued at $29,155,000 after buying an additional 451,381 shares during the period. Geode Capital Management LLC increased its stake in shares of Xencor by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,703,664 shares of the biopharmaceutical company’s stock valued at $13,393,000 after acquiring an additional 29,316 shares during the last quarter. Braidwell LP lifted its holdings in shares of Xencor by 169.0% during the 1st quarter. Braidwell LP now owns 1,655,690 shares of the biopharmaceutical company’s stock worth $17,617,000 after acquiring an additional 1,040,159 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Xencor by 603.7% in the third quarter. Legal & General Group Plc now owns 1,273,000 shares of the biopharmaceutical company’s stock worth $14,932,000 after acquiring an additional 1,092,095 shares during the last quarter.

Analyst Upgrades and Downgrades

XNCR has been the subject of several analyst reports. Truist Financial initiated coverage on shares of Xencor in a research note on Monday, November 24th. They set a “buy” rating and a $29.00 price target on the stock. Bank of America downgraded Xencor from a “buy” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $12.00 in a research note on Wednesday, September 3rd. Wedbush reaffirmed an “outperform” rating and set a $26.00 price objective on shares of Xencor in a report on Thursday, November 6th. Royal Bank Of Canada upped their price objective on Xencor from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, Cantor Fitzgerald raised their target price on Xencor from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.88.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.