John R. Desjarlais, Senior Vice President and CSO of Xencor Inc . (NASDAQ:XNCR), recently sold 68,684 shares of the company’s common stock. The shares were sold at an average price of $23.48, totaling approximately $1.6 million. This transaction was part of a 10b5-1 plan adopted by Desjarlais earlier this year.
In addition to the sale, Desjarlais exercised stock options to acquire 68,684 shares on November 11 and 12, 2024, at an exercise price of $15.69 per share. Following these transactions, Desjarlais holds 200,104 shares of Xencor's common stock.
These transactions are notable for investors as they reflect Desjarlais' ongoing involvement with the company's equity. Xencor, based in Pasadena, California, is known for its work in pharmaceutical preparations.
In other recent news, Xencor Inc. reported third-quarter financial results for 2024, with revenues of $10.7 million, including non-cash royalty revenue. The company also announced the initiation of human trials for its XmAb942 antibody, targeting inflammatory bowel diseases. This follows the departure of board member Dagmar Rosa-Bjorkeson, who is leaving to pursue new business opportunities.
Several analyst firms have updated their stances on Xencor. BMO Capital Markets maintained its Outperform rating and increased the price target to $34, while RBC Capital Markets also raised its price target to $34 and upheld an Outperform rating. However, Barclays (LON:BARC) reaffirmed its underweight rating on the company.
In addition, Xencor recently set the price for its public stock offering at $18 per share, aiming to raise approximately $175 million. The company has also regained full rights to its cancer treatment drug, plamotamab, following Janssen Biotech, Inc.'s decision to terminate its involvement. These are recent developments in Xencor's ongoing evolution.
InvestingPro Insights
The recent stock sale by Xencor's Senior Vice President and CSO, John R. Desjarlais, comes at a time when the company's financial metrics present a mixed picture. According to InvestingPro data, Xencor's market capitalization stands at $1.65 billion, reflecting its significant presence in the pharmaceutical sector.
Despite the recent insider sale, Xencor's stock has shown strong performance, with a 47.84% price return over the last three months. This aligns with an InvestingPro Tip indicating a "strong return over the last three months." However, investors should note that another InvestingPro Tip suggests the stock's RSI is in overbought territory, which could signal a potential pullback.
Financially, Xencor faces some challenges. The company's revenue for the last twelve months as of Q3 2024 was $85.16 million, with a concerning revenue growth of -41.37% over the same period. This decline is further emphasized by an InvestingPro Tip stating that analysts anticipate sales decline in the current year.
It's worth noting that Xencor holds more cash than debt on its balance sheet, which provides some financial flexibility. However, the company is not currently profitable, with a negative P/E ratio of -8.7 for the last twelve months as of Q3 2024.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Xencor, providing a deeper understanding of the company's financial health and market position.
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