Xencor (NASDAQ:XNCR) Shares Down 5.7% Following Insider Selling

Xencor, Inc. (NASDAQ:XNCR - Get Free Report)'s share price dropped 5.7% during trading on Tuesday following insider selling activity. The stock traded as low as $8.67 and last traded at $8.53. Approximately 67,899 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 664,926 shares. The stock had previously closed at $9.05.

Specifically, Director Richard J. Ranieri sold 2,993 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $9.22, for a total transaction of $27,595.46. Following the transaction, the director now owns 19,183 shares of the company's stock, valued at approximately $176,867.26. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ellen Feigal sold 2,993 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $9.22, for a total value of $27,595.46. Following the completion of the transaction, the director now owns 19,183 shares of the company's stock, valued at $176,867.26. This trade represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Xencor news, Director Kurt A. Gustafson sold 2,993 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $9.22, for a total transaction of $27,595.46. Following the transaction, the director now owns 20,183 shares of the company's stock, valued at $186,087.26. This represents a 12.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Wall Street Analyst Weigh In

XNCR has been the subject of several analyst reports. Wedbush reiterated an "outperform" rating and issued a $31.00 target price on shares of Xencor in a research note on Wednesday, April 30th. Barclays dropped their price objective on shares of Xencor from $22.00 to $6.00 and set an "underweight" rating for the company in a research note on Thursday, May 8th. Wall Street Zen lowered shares of Xencor from a "hold" rating to a "sell" rating in a report on Friday, March 14th. William Blair assumed coverage on shares of Xencor in a report on Monday, April 21st. They issued an "outperform" rating for the company. Finally, Wells Fargo & Company dropped their price target on shares of Xencor from $37.00 to $33.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Xencor has an average rating of "Moderate Buy" and a consensus target price of $28.00.

Xencor Stock Performance

The stock's 50-day moving average is $9.07 and its 200-day moving average is $14.58. The company has a current ratio of 5.89, a quick ratio of 5.89 and a debt-to-equity ratio of 0.16. The stock has a market cap of $607.79 million, a price-to-earnings ratio of -2.79 and a beta of 0.87.

Xencor (NASDAQ:XNCR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.06). The business had revenue of $32.73 million during the quarter, compared to analyst estimates of $23.44 million. Xencor had a negative return on equity of 31.94% and a negative net margin of 181.17%. Xencor's revenue was up 104.6% on a year-over-year basis. During the same period in the previous year, the company earned ($1.11) EPS. On average, analysts expect that Xencor, Inc. will post -3.68 EPS for the current year.

Institutional Trading of Xencor

Several large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its position in shares of Xencor by 10.7% in the fourth quarter. Prudential Financial Inc. now owns 70,715 shares of the biopharmaceutical company's stock worth $1,625,000 after buying an additional 6,810 shares during the period. Wellington Management Group LLP purchased a new position in Xencor in the 4th quarter worth approximately $632,000. Raymond James Financial Inc. purchased a new position in Xencor in the 4th quarter worth approximately $2,329,000. Amundi grew its position in Xencor by 225.0% in the fourth quarter. Amundi now owns 35,380 shares of the biopharmaceutical company's stock valued at $829,000 after acquiring an additional 24,494 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Xencor by 16.5% during the fourth quarter. Principal Financial Group Inc. now owns 340,145 shares of the biopharmaceutical company's stock valued at $7,817,000 after purchasing an additional 48,229 shares during the period.

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.