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

Xencor, Inc. (NASDAQ:XNCR - Get Free Report)'s stock price dropped 5.7% during trading on Tuesday following insider selling activity. The company traded as low as $8.67 and last traded at $8.53. Approximately 67,899 shares traded hands during 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 Xencor stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $9.22, for a total value of $27,595.46. Following the transaction, the director now directly owns 19,183 shares of the company's stock, valued at $176,867.26. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ellen Feigal sold 2,993 shares of Xencor 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 directly owns 19,183 shares in the company, valued at approximately $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 business'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 completion of the sale, the director now directly owns 20,183 shares in the company, valued at $186,087.26. The trade was a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

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

Xencor Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23. The business's 50-day moving average price is $9.08 and its two-hundred day moving average price is $14.92. The firm has a market cap of $607.09 million, a price-to-earnings ratio of -2.67 and a beta of 0.87.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.06). The company had revenue of $32.73 million for the quarter, compared to analyst estimates of $23.44 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. Xencor's revenue was up 104.6% on a year-over-year basis. During the same period in the prior year, the business earned ($1.11) earnings per share. On average, research analysts forecast that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Institutional Trading of Xencor

Several hedge funds and other institutional investors have recently bought and sold shares of the company. RTW Investments LP grew its position in shares of Xencor by 317.9% in the 4th quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company's stock worth $55,218,000 after acquiring an additional 1,827,883 shares in the last quarter. BVF Inc. IL boosted its holdings in Xencor by 169.3% in the fourth quarter. BVF Inc. IL now owns 2,288,760 shares of the biopharmaceutical company's stock worth $52,596,000 after purchasing an additional 1,438,760 shares during the period. Braidwell LP increased its stake in Xencor by 169.0% during the first quarter. Braidwell LP now owns 1,655,690 shares of the biopharmaceutical company's stock valued at $17,617,000 after purchasing an additional 1,040,159 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Xencor by 8.6% during the first quarter. Primecap Management Co. CA now owns 9,761,012 shares of the biopharmaceutical company's stock worth $103,857,000 after purchasing an additional 776,580 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in shares of Xencor by 452.4% in the 4th quarter. Nuveen Asset Management LLC now owns 837,082 shares of the biopharmaceutical company's stock worth $19,236,000 after buying an additional 685,557 shares during the last quarter.

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.

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