Bassil Dahiyat, President and CEO of Xencor Inc (NASDAQ:XNCR), recently sold 49,278 shares of the company's common stock. The shares were sold at a weighted average price of $24.07, amounting to a total transaction value of approximately $1.19 million. The sale was executed on November 21, 2024, under a pre-established 10b5-1 trading plan.
In addition to the sale, Dahiyat exercised stock options to acquire 49,278 shares at $15.69 per share on November 21, 2024, and an additional 13,548 shares at the same price on November 22, 2024. These transactions were also part of the 10b5-1 plan. Following these transactions, Dahiyat holds a total of 366,163 shares of Xencor common stock.
In other recent news, Xencor Inc. reported revenues of $10.7 million in its third-quarter financial results for 2024. The company also shared updates on its pipeline, including new clinical development plans for therapeutic candidates such as plamotamab, XmAb657, and XmAb942. BMO Capital Markets maintained its Outperform rating on Xencor's shares and increased the price target to $34. RBC Capital Markets also raised its price target to $34, while JPMorgan (NYSE:JPM) upheld a bullish stance with a $27 target. However, Barclays (LON:BARC) reaffirmed its underweight rating on the company.
Xencor has announced the start of human trials for its XmAb942 antibody, targeting inflammatory bowel diseases, with initial data expected in the first half of 2025. The company also announced a public stock offering priced at $18 per share, aiming to raise approximately $175 million.
Board member Dagmar Rosa-Bjorkeson will depart Xencor to pursue new business opportunities. In response, the company is actively seeking new talent for its Board of Directors. These are the recent developments in the company's journey.
InvestingPro Insights
As we analyze Bassil Dahiyat's recent stock transactions at Xencor Inc (NASDAQ:XNCR), it's worth considering some additional financial insights provided by InvestingPro.
Xencor's stock has shown strong performance recently, with InvestingPro data indicating a 41.54% price total return over the past three months and an 18.19% return in the last month. This upward momentum has brought the stock price to 97.58% of its 52-week high, suggesting investor optimism about the company's prospects.
However, investors should note that Xencor faces some financial challenges. An InvestingPro Tip highlights that the company suffers from weak gross profit margins, which is reflected in the negative gross profit of -$154.51 million for the last twelve months as of Q3 2024. Additionally, another InvestingPro Tip indicates that analysts anticipate a sales decline in the current year, which aligns with the reported revenue growth of -41.37% over the same period.
On a positive note, Xencor maintains a strong liquidity position. An InvestingPro Tip points out that the company holds more cash than debt on its balance sheet, which could provide financial flexibility as it navigates through challenging market conditions.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for Xencor, providing a deeper understanding of the company's financial health and market position. These insights can be particularly valuable when considering the context of insider transactions like those executed by CEO Dahiyat.
Bassil Dahiyat, President and CEO of Xencor Inc (NASDAQ:XNCR), recently sold 49,278 shares of the company's common stock. The shares were sold at a weighted average price of $24.07, amounting to a total transaction value of approximately $1.19 million. The sale was executed on November 21, 2024, under a pre-established 10b5-1 trading plan.
In addition to the sale, Dahiyat exercised stock options to acquire 49,278 shares at $15.69 per share on November 21, 2024, and an additional 13,548 shares at the same price on November 22, 2024. These transactions were also part of the 10b5-1 plan. Following these transactions, Dahiyat holds a total of 366,163 shares of Xencor common stock.
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