Russell Investments Group Ltd. Has $21.64 Million Stock Position in Exelixis, Inc. $EXEL

Russell Investments Group Ltd. cut its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 19.4% in the second quarter, Holdings Channel reports. The institutional investor owned 490,900 shares of the biotechnology company’s stock after selling 118,223 shares during the quarter. Russell Investments Group Ltd.’s holdings in Exelixis were worth $21,636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Byrne Asset Management LLC raised its stake in Exelixis by 129.0% during the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 400 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new position in shares of Exelixis during the 2nd quarter worth about $33,000. Hemington Wealth Management increased its holdings in shares of Exelixis by 211.3% during the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 522 shares during the period. Steph & Co. acquired a new position in shares of Exelixis during the second quarter valued at about $44,000. Finally, Costello Asset Management INC bought a new stake in shares of Exelixis in the first quarter valued at about $39,000. 85.27% of the stock is owned by institutional investors.

Exelixis Trading Down 0.2%

NASDAQ:EXEL opened at $44.12 on Friday. The stock has a market capitalization of $11.83 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 0.79 and a beta of 0.32. Exelixis, Inc. has a 1 year low of $31.90 and a 1 year high of $49.62. The firm has a 50 day moving average of $40.24 and a 200-day moving average of $40.90.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. The company had revenue of $597.76 million during the quarter, compared to analyst estimates of $590.04 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. Exelixis has set its FY 2025 guidance at EPS. As a group, analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EXEL shares. Wells Fargo & Company lowered their price target on Exelixis from $36.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $45.00 target price on shares of Exelixis in a research report on Tuesday, October 21st. Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a report on Tuesday, October 21st. HC Wainwright increased their price target on shares of Exelixis from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Leerink Partnrs raised Exelixis from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Exelixis currently has a consensus rating of “Moderate Buy” and an average price target of $45.45.

Insider Activity at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 34,187 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $41.88, for a total value of $1,431,751.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stelios Papadopoulos sold 100,000 shares of Exelixis stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $43.55, for a total value of $4,355,000.00. Following the completion of the sale, the director directly owned 1,189,228 shares of the company’s stock, valued at $51,790,879.40. This trade represents a 7.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 245,235 shares of company stock valued at $10,490,600 over the last ninety days. Company insiders own 2.82% of the company’s stock.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.