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

Xencor, Inc. (NASDAQ:XNCR) CEO Bassil I. Dahiyat sold 49,278 shares of Xencor stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $24.07, for a total value of $1,186,121.46. Following the sale, the chief executive officer now directly owns 352,615 shares of the company’s stock, valued at approximately $8,487,443.05. The trade was a 12.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Xencor Stock Performance

Shares of Xencor stock opened at $25.62 on Thursday. The company has a 50 day moving average of $21.65 and a 200-day moving average of $20.41. The company has a market cap of $1.79 billion, a PE ratio of -8.01 and a beta of 0.66. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01. Xencor, Inc. has a 1-year low of $15.31 and a 1-year high of $26.84.

Xencor (NASDAQ:XNCR) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.27. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The firm had revenue of $10.70 million for the quarter, compared to the consensus estimate of $14.59 million. During the same quarter last year, the business posted ($0.40) EPS. The company’s revenue was down 81.9% compared to the same quarter last year. As a group, equities research analysts forecast that Xencor, Inc. will post -3.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. boosted its stake in shares of Xencor by 147.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock valued at $62,748,000 after purchasing an additional 1,858,440 shares in the last quarter. Logos Global Management LP lifted its stake in Xencor by 130.8% in the 2nd 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 during the last quarter. RA Capital Management L.P. acquired a new stake in Xencor in the third quarter valued at approximately $11,563,000. RTW Investments LP bought a new stake in shares of Xencor during the third quarter worth $11,563,000. Finally, Braidwell LP acquired a new position in shares of Xencor during the third quarter worth $9,380,000.

Analysts Set New Price Targets

XNCR has been the topic of several recent research reports. Wedbush reiterated 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 reiterated an “outperform” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. 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 equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.