Alan Bruce Montgomery Sells 2,215 Shares of Xencor, Inc. (NASDAQ:XNCR) Stock

Xencor, Inc. (NASDAQ:XNCR) Director Alan Bruce Montgomery sold 2,215 shares of Xencor stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $9.22, for a total value of $20,422.30. Following the sale, the director now owns 20,611 shares of the company’s stock, valued at approximately $190,033.42. This trade represents a 9.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Xencor Trading Down 8.2%

Shares of XNCR opened at $8.31 on Wednesday. Xencor, Inc. has a fifty-two week low of $7.16 and a fifty-two week high of $27.24. The firm has a market cap of $591.42 million, a price-to-earnings ratio of -2.72 and a beta of 0.87. The firm has a 50 day moving average price of $9.07 and a 200-day moving average price of $14.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.89 and a current ratio of 5.89.

Xencor (NASDAQ:XNCR) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.06). The business had revenue of $32.73 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 104.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.11) EPS. As a group, equities research analysts forecast that Xencor, Inc. will post -3.68 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Sterling Capital Management LLC boosted its holdings in Xencor by 732.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,040 shares during the period. GF Fund Management CO. LTD. bought a new stake in Xencor in the fourth quarter valued at approximately $34,000. State of Wyoming purchased a new stake in shares of Xencor during the first quarter valued at approximately $34,000. CWM LLC boosted its stake in shares of Xencor by 195.5% during the first quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 2,231 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Xencor by 49.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,041 shares of the biopharmaceutical company’s stock worth $93,000 after purchasing an additional 1,337 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. William Blair assumed coverage on shares of Xencor in a research report on Monday, April 21st. They issued an “outperform” rating on the stock. Wall Street Zen cut shares of Xencor from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Barclays lowered their price objective on shares of Xencor from $22.00 to $6.00 and set an “underweight” rating on the stock in a research report on Thursday, May 8th. Wedbush reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Xencor in a report on Wednesday, April 30th. Finally, Wells Fargo & Company cut their target price 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 investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Xencor presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

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.