Bassil I. Dahiyat, President and Chief Executive Officer of Xencor Inc (NASDAQ:XNCR), recorded an insider sale of 6,758 shares of common stock on March 3, 2026. The transaction was executed at a per-share price of $11.8951, producing gross proceeds of $80,387.
Regulatory filings show additional equity-related activity the day prior. According to a Form 4 filed with the Securities and Exchange Commission, Dahiyat acquired 97,291 shares of Xencor common stock on March 2, 2026, with a reported value of $0. Those shares are described as restricted stock units that will vest over a three-year schedule.
The same filing discloses an option award: Dahiyat received options to purchase 583,748 shares of Xencor common stock at an exercise price of $12.30 per share. Those options are set to vest over a four-year period beginning on March 2, 2026.
After completing the March 3 sale, Dahiyat is shown as directly owning 567,792 shares of Xencor.
Market movement since the sale has been positive: the stock has risen to $12.74 and is cited as having gained 49% over the last six months.
Valuation and balance sheet notes
Analysis flagged in the filing references InvestingPro's view that Xencor appears undervalued relative to its Fair Value estimate. The same research notes that the company carries more cash than debt on its balance sheet, highlighted as one of 11 ProTips available to subscribers. Additional company research for Xencor and more than 1,400 other U.S. equities is available through the service's Pro Research Report.
Corporate developments and royalty issues
On the corporate front, Xencor disclosed that Alexion Pharmaceuticals will stop paying royalties on U.S. sales of Ultomiris; royalty payments will continue for sales outside the United States. Xencor said it is actively working to resolve the payment disagreement with Alexion.
Separately, Xencor extended the royalty term for Ultomiris in the United States through December 2028 following issuance of a new patent. That extension was described as having the potential to generate an incremental $100 million to $120 million in royalty revenue.
Analyst stance and pipeline plans
Truist Securities has reiterated a Buy rating on Xencor, citing momentum in the TL1A×IL-23p bispecifics space. The commentary referenced sector activity including Boehringer Ingelheim's acquisition and Caldera's financing round as part of that momentum.
Xencor outlined its 2026 pipeline priorities, concentrating on cancer and autoimmune candidates. The company plans several key clinical data presentations next year as it advances a clinical-stage portfolio that includes programs targeting solid tumors and inflammatory bowel disease.
This reporting summarizes the transactions and company disclosures as presented in regulatory filings and company statements.