These activities were executed as part of a pre-established 10b5-1 trading plan, which Montgomery adopted on June 28, 2024. After these transactions, Montgomery's direct holdings in Xencor stand at 9,140 shares. InvestingPro subscribers have access to 12 additional key insights about Xencor, including detailed analysis of its financial health and growth prospects. InvestingPro subscribers have access to 12 additional key insights about Xencor, including detailed analysis of its financial health and growth prospects.
In addition to the sales, Montgomery exercised options to acquire Xencor stock. The transactions included acquiring a total of 14,722 shares through option exercises at prices between $15.35 and $20.00, amounting to a total value of $251,269. According to InvestingPro data, Xencor maintains a strong financial position with more cash than debt on its balance sheet.
These activities were executed as part of a pre-established 10b5-1 trading plan, which Montgomery adopted on June 28, 2024. After these transactions, Montgomery's direct holdings in Xencor stand at 9,140 shares.
In other recent news, Xencor Inc (NASDAQ:XNCR). has been the subject of several key developments. The biopharmaceutical company reported third-quarter revenues of $10.7 million for 2024. Analysts from Piper Sandler upgraded Xencor's stock from Neutral to Overweight, reflecting a positive outlook on the company's expansion into autoimmune disease. BMO Capital Markets and RBC Capital Markets also maintained their Outperform ratings and raised their price targets to $34.
Xencor is set to begin Phase I human trials for its XmAb942 antibody, targeting inflammatory bowel diseases, with initial data expected in the first half of 2025. The company is also preparing to launch a public stock offering priced at $18 per share, aiming to raise approximately $175 million.
In terms of personnel changes, board member Dagmar Rosa-Bjorkeson will be leaving Xencor to pursue new business opportunities. On the clinical front, the company is progressing with several key developments, including initial Phase I healthy volunteer data on XmAb942 and a Phase Ib/IIa study of plamatomab in rheumatoid arthritis. Furthermore, Xencor plans to release Phase II data for vudalimab as a monotherapy and in combination with chemotherapy in metastatic castration-resistant prostate cancer, as well as Phase Ib/II data comparing vudalimab to Keytruda in first-line non-small cell lung cancer. These are among the recent developments in Xencor's journey.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.