Xencor (NASDAQ:XNCR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
According to Zacks, “Xencor Inc. is a clinical-stage biopharmaceutical company. It develops antibodies for the treatment of autoimmune diseases, asthma and allergic diseases, and cancer. Xencor Inc. is based in Monrovia, California. “
Several other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald started coverage on shares of Xencor in a research report on Wednesday, November 29th. They set an “overweight” rating and a $33.00 price objective on the stock. BidaskClub upgraded shares of Xencor from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 24th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $35.00 price objective on shares of Xencor in a research report on Sunday, November 12th. Two equities research analysts have rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $34.25.
Shares of Xencor (NASDAQ XNCR) opened at $32.72 on Thursday. The stock has a market cap of $1,513.25, a P/E ratio of -31.46 and a beta of 1.50. Xencor has a 1 year low of $18.55 and a 1 year high of $33.00.
In other news, insider Edgardo Baracchini, Jr. sold 20,000 shares of Xencor stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $29.64, for a total transaction of $592,800.00. Following the sale, the insider now owns 20,000 shares in the company, valued at $592,800. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Edgardo Baracchini, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $29.60, for a total transaction of $296,000.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $296,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,000 shares of company stock worth $1,865,950. Company insiders own 4.03% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. MetLife Investment Advisors LLC purchased a new position in shares of Xencor in the fourth quarter valued at $365,000. Redmile Group LLC grew its holdings in shares of Xencor by 12.5% in the fourth quarter. Redmile Group LLC now owns 1,350,894 shares of the biopharmaceutical company’s stock valued at $29,612,000 after purchasing an additional 150,600 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Xencor by 73.9% in the fourth quarter. Macquarie Group Ltd. now owns 95,643 shares of the biopharmaceutical company’s stock valued at $2,096,000 after purchasing an additional 40,643 shares in the last quarter. Vident Investment Advisory LLC grew its holdings in shares of Xencor by 5.9% in the fourth quarter. Vident Investment Advisory LLC now owns 59,426 shares of the biopharmaceutical company’s stock valued at $1,303,000 after purchasing an additional 3,289 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Xencor in the fourth quarter valued at $1,456,000. 78.08% of the stock is owned by hedge funds and other institutional investors.
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Xencor, Inc is a clinical-stage biopharmaceutical company. The Company is focused on discovering and developing engineered monoclonal antibodies to treat severe and life threatening diseases. It has developed two clinical-stage product candidates, using its Immune Inhibitor Fc platform: XmAb5871, which is in two Phase II trials and is being developed for autoimmune disease, and XmAb7195, which is in a Phase I trial and is being developed for asthma and allergic diseases.
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