Sei Investments Co. Reduces Position in Exelixis, Inc. $EXEL

Sei Investments Co. lowered its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 8.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,629,670 shares of the biotechnology company’s stock after selling 153,719 shares during the quarter. Sei Investments Co.’s holdings in Exelixis were worth $69,896,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EXEL. Motiv8 Investments LLC bought a new stake in shares of Exelixis during the fourth quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC bought a new stake in Exelixis during the 1st quarter valued at $27,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Exelixis in the 4th quarter worth $29,000. Activest Wealth Management bought a new position in shares of Exelixis during the 4th quarter worth $32,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Exelixis by 1,380.4% during 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 during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Exelixis from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, July 8th. HC Wainwright reiterated a “buy” rating and set a $56.00 price objective on shares of Exelixis in a research note on Thursday, July 2nd. Stifel Nicolaus boosted their price objective on shares of Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. TD Cowen increased their target price on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Barclays boosted their price target on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Exelixis presently has an average rating of “Hold” and a consensus target price of $49.00.

Insider Activity

In other Exelixis news, Director Maria C. Freire sold 20,634 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $46.00, for a total transaction of $949,164.00. Following the completion of the transaction, the director owned 100,819 shares in the company, valued at $4,637,674. The trade was a 16.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George Poste sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $45.71, for a total value of $2,742,600.00. Following the completion of the sale, the director directly owned 118,832 shares of the company’s stock, valued at $5,431,810.72. The trade was a 33.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 219,170 shares of company stock valued at $10,620,641 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Exelixis Stock Down 0.5%

Shares of NASDAQ:EXEL opened at $55.37 on Friday. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $57.57. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.60 and a beta of 0.42. The business has a 50-day moving average price of $53.16 and a 200-day moving average price of $47.19.

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