Exelixis, Inc. $EXEL Shares Sold by Vestcor Inc

Vestcor Inc cut its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,297 shares of the biotechnology company’s stock after selling 18,498 shares during the period. Vestcor Inc owned approximately 0.07% of Exelixis worth $8,209,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Anchor Investment Management LLC increased its holdings in shares of Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 500 shares in the last quarter. Activest Wealth Management bought a new position in shares of Exelixis in the fourth quarter valued at $32,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Exelixis by 1,380.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 773 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Exelixis in the fourth quarter valued at $44,000. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Exelixis in the third quarter valued at $47,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Trading Up 0.4%

EXEL stock opened at $52.70 on Friday. Exelixis, Inc. has a one year low of $33.76 and a one year high of $52.98. The firm has a market capitalization of $13.25 billion, a PE ratio of 17.51, a P/E/G ratio of 1.51 and a beta of 0.41. The firm has a 50-day moving average of $46.96 and a two-hundred day moving average of $44.53.

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

Analysts Set New Price Targets

EXEL has been the topic of several research reports. Royal Bank Of Canada dropped their price target on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Truist Financial raised Exelixis to a “strong-buy” rating in a report on Monday, April 27th. Barclays upped their price objective on shares of Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Exelixis currently has an average rating of “Hold” and an average target price of $47.35.

Insiders Place Their Bets

In other news, Director Jack L. Wyszomierski sold 3,925 shares of the stock in a transaction that occurred 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 sale, the director directly owned 284,384 shares of the company’s stock, valued at $14,375,611.20. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Dana Aftab sold 43,451 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the completion of the sale, the executive vice president directly owned 594,741 shares of the company’s stock, valued at $29,945,209.35. This trade represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 219,170 shares of company stock valued at $10,620,641 over the last ninety days. Insiders own 2.60% of the company’s stock.

About Exelixis

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.