Xencor Inc (NASDAQ:XNCR) President and CEO, Dahiyat Bassil I, recently sold 3,366 shares of the company's common stock, totaling $80,841. The shares were sold at an average price of $24.0172 per share. This transaction was part of a pre-arranged 10b5-1 trading plan, which allows insiders to sell a predetermined number of shares at a set time.
In addition to the sale, Bassil exercised stock options to acquire the same number of shares at $15.69 each, with the total value of these options amounting to $52,812. Following these transactions, Bassil's direct ownership in Xencor stands at 352,615 shares.
These transactions provide investors with insight into the executive's current holdings and trading activity within the company.
In other recent news, Xencor reported third-quarter financial results for 2024, with revenues of $10.7 million. The company also announced the commencement of human trials for its XmAb942 antibody, targeting inflammatory bowel diseases, with initial data expected in the first half of 2025. Furthermore, Xencor is preparing to launch a public stock offering priced at $18 per share, aiming to raise approximately $175 million. BMO Capital Markets and RBC Capital Markets have both raised their price targets for Xencor to $34, maintaining an Outperform rating, while JPMorgan has upheld a bullish stance with a $27 target. Barclays (LON:BARC), however, reaffirmed its underweight rating on the company. In terms of personnel changes, Xencor board member, Dagmar Rosa-Bjorkeson, will be departing the company to pursue new business opportunities. These recent developments reflect Xencor's continued progress in both the autoimmune and oncology sectors.
InvestingPro Insights
To complement the recent insider activity at Xencor Inc (NASDAQ:XNCR), InvestingPro data offers additional context for investors. The company's market capitalization stands at $1.63 billion, reflecting its current valuation in the biotech sector.
Xencor's financial health presents a mixed picture. An InvestingPro Tip highlights that the company holds more cash than debt on its balance sheet, indicating a strong liquidity position. This aligns with another tip noting that Xencor's liquid assets exceed short-term obligations, which could provide financial flexibility as the company navigates its growth strategy.
However, investors should be aware of some challenges. The company's revenue for the last twelve months as of Q3 2023 was $85.16 million, with a concerning revenue growth decline of -41.37% over the same period. This decline is even more pronounced in the quarterly figures, with Q3 2023 showing an -81.9% revenue drop compared to the previous year.
Despite these financial headwinds, the stock has shown resilience. An InvestingPro Tip points out that Xencor has delivered a strong return over the last three months, with price data confirming a 49.4% total return in that period. This recent performance may explain why the RSI suggests the stock is currently in overbought territory, as another tip indicates.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Xencor, providing a deeper dive into the company's financial health and market position.
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