Xencor (NASDAQ:XNCR) Shares Gap Down on Insider Selling

Xencor, Inc. (NASDAQ:XNCR)’s stock price gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $12.74, but opened at $11.85. Xencor shares last traded at $11.53, with a volume of 514,772 shares.

Specifically, CEO Bassil I. Dahiyat sold 6,758 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $11.90, for a total value of $80,420.20. Following the sale, the chief executive officer directly owned 567,792 shares in the company, valued at $6,756,724.80. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John R. Desjarlais sold 2,663 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $11.90, for a total value of $31,689.70. Following the transaction, the vice president owned 270,451 shares of the company’s stock, valued at $3,218,366.90. The trade was a 0.98% decrease in their position. The SEC filing for this sale provides additional information.

Wall Street Analysts Forecast Growth

Several research firms have commented on XNCR. Wall Street Zen downgraded shares of Xencor from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Wedbush restated an “outperform” rating and set a $26.00 price target on shares of Xencor in a research note on Thursday, November 6th. JPMorgan Chase & Co. lowered their target price on shares of Xencor from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Xencor in a research report on Monday, December 29th. Finally, Truist Financial assumed coverage on Xencor in a research report on Monday, November 24th. They issued a “buy” rating and a $29.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.00.

Xencor Price Performance

The business has a 50 day simple moving average of $12.96 and a two-hundred day simple moving average of $12.91. The firm has a market capitalization of $833.13 million, a P/E ratio of -9.16 and a beta of 0.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.25 and a current ratio of 6.25.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.55. The company had revenue of $28.24 million during the quarter, compared to analyst estimates of $29.97 million. Xencor had a negative return on equity of 14.58% and a negative net margin of 73.20%.Xencor’s revenue was down 46.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.62) earnings per share. On average, sell-side analysts expect that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Institutional Trading of Xencor

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. grew its position in Xencor by 209.1% in the third quarter. Hantz Financial Services Inc. now owns 3,187 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 2,156 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Xencor by 77.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,328 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 1,449 shares in the last quarter. Farther Finance Advisors LLC bought a new position in shares of Xencor during the 3rd quarter valued at about $44,000. Federated Hermes Inc. raised its holdings in shares of Xencor by 114.3% during the 3rd quarter. Federated Hermes Inc. now owns 3,947 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 2,105 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Xencor by 85.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,260 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 2,424 shares during the last quarter.

About Xencor

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.