Board Director Invests $1.5 Million in Xencor Inc (XNCR) Amid the IPO

On Friday, Xencor Inc (NASDAQ:XNCR)’s Board Director, John Stafford III acquired 275,000 company shares at its initial public offering (IPO). He paid the full IPO price, $5.50 per share, in a transaction worth more than $1.5 million. These shares add up to the ones he got in exchange for his Series A-1 Preferred Stock (every 3.1 shares of Series A-1 Preferred Stock automatically converted into 1 share of common stock).

Xencor

Xencor Inc (NASDAQ:XNCR) is a small-cap clinical-stage biopharmaceutical company that develops engineered monoclonal antibodies for the treatment of autoimmune diseases, asthma, allergic diseases, and cancer, closed its IPO last Friday, Dec 6th. It offered 14,639,500 shares of its common stock at an IPO price of $5.50 per share. After deducting underwriting discounts and commissions, and estimated offering expenses, the company projects net proceeds from the offering to be around $72.4 million.

Since the opening of the IPO, several forms reporting insider trades have been filed with the U.S. Securities and Exchange Commission. However, most of them have been disclosures from Board directors and major shareholders, who received the new, publicly traded, stock of Xencor Inc (NASDAQ:XNCR) in exchange for their Series A-1 Preferred Stock.

Back to Stafford: the director now holds more than 7.8 million shares of common stock, valued at more than $64 million. As the owner of more than 25% of the outstanding shares, Stafford stands as the largest shareholder after the IPO. In fact, he was already the largest stockholder before the company went public, owning 45.2% of the company’s shares, according to Xencor Inc (NASDAQ:XNCR)’s S-1 form. In addition, John Stafford, Jr, owned an extra 10.3%, and James Stafford another 6.2%. They now own 5.9% and 3.4% of the total shares, respectively.

Other strong betters on Xencor Inc (NASDAQ:XNCR) are Atul Saran and R Harold Werner, Board Directors, and MedImmune Ventures, Inc. However, currently, none of the major hedge funds that we track hold stakes in this biopharmaceutical company. Still, this could be explained, not by a lack of bullish sentiment, but by the very little time passed since the company went public. Nonetheless, its negative figures for margins and returns are eye-catching: investors should be aware of the risks involved in investing in a clinical-stage biopharmaceutical company.

One way or another, stock is on the rise now, and could certainly be a good play, at least for short-sellers.

 

Disclosure: Javier Hasse holds no position in any stocks mentioned

Recommended Reading:

Akamai Technologies, Inc. (AKAM)’s CEO Buys Stock Amid M&A Announcement

Insiders Feeling Good With These Healthcare Stocks

Insiders and Jim Simons Into IT Services

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!