Xencor, Inc. (NASDAQ:XNCR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
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. “
A number of other research firms also recently commented on XNCR. TheStreet raised Xencor from a “sell” rating to a “hold” rating in a research note on Friday, December 2nd. Canaccord Genuity set a $32.00 target price on Xencor and gave the stock a “buy” rating in a research report on Monday, November 28th. Piper Jaffray Companies began coverage on Xencor in a research report on Tuesday, October 4th. They set an “overweight” rating and a $35.00 target price on the stock. Finally, Leerink Swann reaffirmed a “buy” rating and set a $26.00 target price on shares of Xencor in a research report on Thursday, November 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $28.33.
Xencor (NASDAQ:XNCR) traded down 3.047% during midday trading on Wednesday, reaching $25.295. 142,065 shares of the company were exchanged. The firm’s 50 day moving average price is $26.25 and its 200-day moving average price is $22.25. The stock has a market capitalization of $1.04 billion, a P/E ratio of 25.917 and a beta of 2.27. Xencor has a 52 week low of $9.89 and a 52 week high of $29.38.
In other news, major shareholder John S. Stafford III sold 63,061 shares of Xencor stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $27.71, for a total transaction of $1,747,420.31. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.03% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC increased its position in shares of Xencor by 8.5% in the second quarter. Acrospire Investment Management LLC now owns 6,347 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 495 shares in the last quarter. DIAM Co. Ltd. acquired a new position in shares of Xencor during the third quarter worth $154,000. BlackRock Inc. increased its position in shares of Xencor by 363.5% in the second quarter. BlackRock Inc. now owns 11,350 shares of the biopharmaceutical company’s stock worth $215,000 after buying an additional 8,901 shares in the last quarter. Capital Fund Management S.A. acquired a new position in shares of Xencor during the third quarter worth $220,000. Finally, Zacks Investment Management acquired a new position in shares of Xencor during the third quarter worth $249,000. Institutional investors and hedge funds own 63.61% of the company’s stock.
Xencor Company Profile
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. Its segment is related to the development of pharmaceutical products. It uses its XmAb technology platform to create antibody product candidates designed to treat autoimmune and allergic diseases, cancer and other conditions.
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