Exelixis, Inc. $EXEL Shares Sold by Marietta Investment Partners LLC

Marietta Investment Partners LLC lessened its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 51.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,944 shares of the biotechnology company’s stock after selling 9,640 shares during the period. Marietta Investment Partners LLC’s holdings in Exelixis were worth $384,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Exelixis by 11.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock valued at $172,658,000 after buying an additional 419,596 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Exelixis by 62.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 187,154 shares of the biotechnology company’s stock worth $8,224,000 after buying an additional 71,987 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in Exelixis by 1.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company’s stock worth $111,303,000 after acquiring an additional 28,265 shares during the period. Private Client Services LLC acquired a new stake in Exelixis during the fourth quarter worth about $1,992,000. Finally, Nisa Investment Advisors LLC raised its position in Exelixis by 692.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 140,446 shares of the biotechnology company’s stock valued at $6,156,000 after acquiring an additional 122,720 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling at Exelixis

In other news, Director Maria C. Freire sold 20,634 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $46.00, for a total transaction of $949,164.00. Following the transaction, the director owned 100,819 shares in the company, valued at $4,637,674. This trade represents a 16.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Patrick J. Haley sold 32,110 shares of Exelixis stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the sale, the executive vice president directly owned 357,638 shares in the company, valued at $17,813,948.78. This represents a 8.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 219,170 shares of company stock worth $10,620,641. 2.60% of the stock is currently owned by corporate insiders.

Exelixis Price Performance

Shares of Exelixis stock opened at $55.85 on Monday. The firm has a market cap of $14.04 billion, a PE ratio of 18.55, a P/E/G ratio of 1.61 and a beta of 0.42. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $56.21. The business has a 50-day moving average price of $50.56 and a 200 day moving average price of $46.00.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million for the quarter, compared to the consensus estimate of $607.51 million. During the same quarter in the prior year, the business posted $0.55 earnings per share. Exelixis’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts expect that Exelixis, Inc. will post 3.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EXEL shares. Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Truist Financial cut shares of Exelixis from a “buy” rating to a “hold” rating and raised their price objective for the stock from $51.00 to $54.00 in a research note on Thursday, June 25th. HC Wainwright reaffirmed a “buy” rating and set a $56.00 target price on shares of Exelixis in a report on Thursday. UBS Group reaffirmed a “buy” rating on shares of Exelixis in a report on Thursday. Finally, Stifel Nicolaus boosted their target price on shares of Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.60.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.