Xencor (NASDAQ:XNCR) Director Sells 81,252 Shares of Company Stock

Xencor, Inc. (NASDAQ:XNCR) Director Richard Ranieri sold 81,252 shares of the company’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $39.25, for a total value of $3,189,141.00. Following the completion of the sale, the director owned 18,514 shares in the company, valued at $726,674.50. This trade represents a 81.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Xencor Trading Down 4.6%

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

Xencor (NASDAQ:XNCR) last posted its earnings results on Wednesday, November 4th. The biopharmaceutical company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.83. Xencor had a negative net margin of 58.79% and a negative return on equity of 21.28%. The company had revenue of $116.52 million during the quarter, compared to analysts’ expectations of $63.00 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Xencor’s quarterly revenue was up 453.3% compared to the same quarter last year. As a group, analysts predict that Xencor, Inc. will post -2.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

XNCR has been the topic of several research analyst reports. Royal Bank Of Canada increased their target price on Xencor from $20.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, October 27th. Cantor Fitzgerald initiated coverage on Xencor in a research note on Thursday, November 5th. They issued an “overweight” rating and a $70.00 target price for the company. Raymond James Financial lifted their price target on Xencor from $40.00 to $46.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 1st. Barclays set a $45.00 price target on shares of Xencor and gave the stock an “overweight” rating in a research report on Monday, October 26th. Finally, Bank of America increased their price objective on shares of Xencor from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.22.

Institutional Trading of Xencor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Edgestream Partners L.P. bought a new position in Xencor in the 3rd quarter worth approximately $3,855,000. Bessemer Group Inc. lifted its holdings in Xencor by 18.7% during the 3rd quarter. Bessemer Group Inc. now owns 1,791 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 282 shares in the last quarter. Diversified Trust Co boosted its position in Xencor by 10.8% in the 3rd quarter. Diversified Trust Co now owns 24,917 shares of the biopharmaceutical company’s stock valued at $622,000 after buying an additional 2,427 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Xencor by 76.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 80,285 shares of the biopharmaceutical company’s stock valued at $2,003,000 after buying an additional 34,905 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in shares of Xencor by 39.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 15,036 shares of the biopharmaceutical company’s stock valued at $375,000 after buying an additional 4,247 shares during the period.

About Xencor

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.