Xencor (NASDAQ:XNCR) Director Sells $3,189,141.00 in Stock

Key Points

• Director Richard Ranieri sold 81,252 Xencor shares for about $3.19 million at an average price of $39.25, reducing his stake by 81.44% to 18,514 shares.
• Xencor reported quarterly EPS of $0.50, beating the consensus estimate of a $0.33 loss, while revenue of $116.52 million topped estimates and rose 453.3% year over year.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $42.22; shares fell 4.6% to $38.13 in Thursday trading.

Xencor, Inc. (NASDAQ:XNCR - Get Free Report) Director Richard Ranieri sold 81,252 shares of the firm's stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $39.25, for a total transaction of $3,189,141.00. Following the completion of the sale, the director owned 18,514 shares in the company, valued at approximately $726,674.50. The trade was a 81.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Xencor Trading Down 4.6%

NASDAQ:XNCR traded down $1.84 during trading hours on Thursday, hitting $38.13. 1,214,240 shares of the company traded hands, compared to its average volume of 1,062,678. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -23.98 and a beta of 0.78. Xencor, Inc. has a twelve month low of $10.38 and a twelve month high of $40.60. The firm has a 50-day moving average of $26.91 and a 200 day moving average of $17.85.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.83. The company had revenue of $116.52 million for the quarter, compared to analyst estimates of $63.00 million. Xencor had a negative net margin of 58.79% and a negative return on equity of 21.28%. The business's quarterly revenue was up 453.3% on a year-over-year basis. During the same period last year, the business posted ($0.08) EPS. Equities research analysts predict that Xencor, Inc. will post -2.61 earnings per share for the current fiscal year.

Institutional Trading of Xencor

Several institutional investors have recently made changes to their positions in XNCR. BlackRock Inc. bought a new stake in Xencor in the second quarter valued at about $219,785,000. Primecap Management Co. CA acquired a new stake in Xencor during the second quarter valued at approximately $163,919,000. Jefferies Financial Group Inc. boosted its holdings in Xencor by 189.0% during the third quarter. Jefferies Financial Group Inc. now owns 2,082,243 shares of the biopharmaceutical company's stock valued at $51,952,000 after purchasing an additional 1,361,803 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Xencor by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,294,887 shares of the biopharmaceutical company's stock valued at $15,613,000 after purchasing an additional 45,599 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Xencor in the 2nd quarter valued at approximately $17,568,000.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on XNCR. Bank of America lifted their target price on Xencor from $20.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, September 21st. Royal Bank Of Canada upped their price target on Xencor from $20.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, October 27th. Cantor Fitzgerald initiated coverage on Xencor in a research report on Thursday, November 5th. They issued an "overweight" rating and a $70.00 price objective for the company. Raymond James Financial lifted their price objective on Xencor from $40.00 to $46.00 and gave the stock a "strong-buy" rating in a report on Tuesday, September 1st. Finally, Wedbush boosted their price objective on Xencor from $30.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.22.

Xencor Company Profile

Xencor, Inc. is a clinical-stage biopharmaceutical company that discovers and develops engineered antibody therapeutics for cancer and autoimmune diseases. The company's XmAb technology platform modifies antibody structures to create treatments with properties such as enhanced immune-cell activity or the ability to bind to more than one target. Xencor advances its own drug candidates and works with other biopharmaceutical companies through research collaborations and licensing agreements. Its development programs include antibody-based approaches designed to engage immune cells or block disease-related targets.

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