Xencor, Inc. (XNCR) Stock Rating Lowered by Zacks Investment Research

Xencor, Inc. (NASDAQ:XNCR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Saturday.

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 analysts have also recently weighed in on the company. Canaccord Genuity set a $36.00 price target on Xencor and gave the company a “buy” rating in a research report on Monday, October 23rd. BidaskClub lowered Xencor from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, ValuEngine lowered Xencor from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.67.

Xencor (NASDAQ:XNCR) opened at $21.03 on Friday. Xencor has a 52-week low of $18.55 and a 52-week high of $29.38.

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In other Xencor news, major shareholder John S. Stafford III purchased 79,035 shares of Xencor stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average price of $20.47 per share, for a total transaction of $1,617,846.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder John S. Stafford III purchased 25,000 shares of Xencor stock in a transaction that occurred on Wednesday, August 16th. The shares were acquired at an average price of $20.96 per share, for a total transaction of $524,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 427,209 shares of company stock worth $8,537,686. Company insiders own 4.03% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Emory University purchased a new position in shares of Xencor during the 2nd quarter worth approximately $1,491,000. State of Wisconsin Investment Board bought a new stake in shares of Xencor in the 2nd quarter worth approximately $612,000. Goldman Sachs Group Inc. boosted its position in shares of Xencor by 50.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 262,439 shares of the biopharmaceutical company’s stock worth $6,277,000 after purchasing an additional 87,599 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Xencor by 10.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 219,458 shares of the biopharmaceutical company’s stock valued at $5,250,000 after acquiring an additional 19,921 shares in the last quarter. Finally, TD Asset Management Inc. lifted its position in Xencor by 9.3% in the 2nd quarter. TD Asset Management Inc. now owns 81,769 shares of the biopharmaceutical company’s stock valued at $1,726,000 after acquiring an additional 6,963 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

About Xencor

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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