Caitlin John LLC Purchases New Stake in Exelixis, Inc. $EXEL

Caitlin John LLC acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 12,270 shares of the biotechnology company’s stock, valued at approximately $668,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Exelixis in the second quarter valued at about $1,581,991,000. AQR Capital Management LLC grew its position in shares of Exelixis by 48.8% during the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after acquiring an additional 4,477,029 shares during the period. Norges Bank purchased a new stake in shares of Exelixis during the 4th quarter worth approximately $106,460,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Exelixis during the 2nd quarter worth approximately $113,951,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Exelixis in the 2nd quarter worth approximately $107,803,000. Institutional investors own 85.27% of the company’s stock.

Insider Transactions at Exelixis

In other news, Director Mary C. Beckerle sold 9,812 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the transaction, the director directly owned 16,079 shares of the company’s stock, valued at $862,799.14. This trade represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack L. Wyszomierski sold 3,925 shares of Exelixis stock in a transaction on Monday, June 1st. The shares were sold at an average price of $50.55, for a total value of $198,408.75. Following the completion of the transaction, the director owned 284,384 shares of the company’s stock, valued at approximately $14,375,611.20. This trade represents a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 23,549 shares of company stock valued at $1,216,894 over the last three months. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EXEL. Stifel Nicolaus upped their price objective on Exelixis from $47.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. HC Wainwright reissued a “buy” rating and issued a $56.00 target price on shares of Exelixis in a research report on Thursday, July 2nd. Morgan Stanley boosted their target price on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Zacks Research cut Exelixis from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Finally, Truist Financial cut their price target on Exelixis from $56.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $50.07.

Exelixis Trading Down 1.5%

Shares of EXEL stock opened at $55.26 on Friday. The firm’s 50 day moving average is $54.52 and its 200 day moving average is $48.96. The stock has a market capitalization of $13.69 billion, a P/E ratio of 17.38, a PEG ratio of 1.67 and a beta of 0.44. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $57.57.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. During the same period in the previous year, the business earned $0.75 EPS. Exelixis’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts predict that Exelixis, Inc. will post 3.18 EPS for the current year.

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.