Zacks Investment Research lowered shares of Xencor (NASDAQ:XNCR) from a hold rating to a sell rating in a research report released on Thursday morning.
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. “
XNCR has been the subject of a number of other reports. Cantor Fitzgerald reissued an overweight rating and set a $37.00 price objective on shares of Xencor in a research report on Thursday, March 1st. Piper Jaffray Companies reissued a buy rating and set a $35.00 price objective on shares of Xencor in a research report on Sunday, November 12th. Finally, BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a research report on Friday, December 15th. Two analysts have rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $34.25.
In other Xencor news, major shareholder John S. Stafford III purchased 6,215 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was purchased at an average cost of $20.72 per share, with a total value of $128,774.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edgardo Baracchini, Jr. sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $29.59, for a total value of $591,800.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $295,900. The disclosure for this sale can be found here. Insiders sold 65,000 shares of company stock valued at $1,865,950 over the last ninety days. 4.03% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in XNCR. Redmile Group LLC boosted its holdings in 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. ArrowMark Colorado Holdings LLC boosted its holdings in Xencor by 32.9% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 583,491 shares of the biopharmaceutical company’s stock valued at $12,790,000 after purchasing an additional 144,319 shares in the last quarter. State Street Corp boosted its holdings in Xencor by 11.1% in the second quarter. State Street Corp now owns 1,103,455 shares of the biopharmaceutical company’s stock valued at $23,295,000 after purchasing an additional 110,474 shares in the last quarter. Artal Group S.A. acquired a new position in Xencor in the third quarter valued at approximately $2,292,000. Finally, Vanguard Group Inc. boosted its holdings in Xencor by 5.6% in the second quarter. Vanguard Group Inc. now owns 1,701,209 shares of the biopharmaceutical company’s stock valued at $35,913,000 after purchasing an additional 90,094 shares in the last quarter. 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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