Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 4.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 325,795 shares of the biotechnology company’s stock after selling 14,342 shares during the period. Corebridge Financial Inc. owned about 0.11% of Exelixis worth $10,849,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of EXEL. USA Financial Formulas acquired a new position in Exelixis in the fourth quarter valued at approximately $32,000. Principal Securities Inc. lifted its holdings in shares of Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 373 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Exelixis during the 4th quarter valued at approximately $39,000. Brooklyn Investment Group bought a new position in Exelixis during the 3rd quarter worth $42,000. Finally, UMB Bank n.a. increased its position in Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after buying an additional 553 shares during the period. Institutional investors own 85.27% of the company’s stock.

Insider Transactions at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 52,636 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the sale, the executive vice president now owns 303,310 shares of the company’s stock, valued at $11,216,403.80. This represents a 14.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of Exelixis stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $34.88, for a total transaction of $425,884.80. Following the completion of the transaction, the director now directly owns 30,406 shares in the company, valued at approximately $1,060,561.28. This represents a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock valued at $5,177,234 over the last three months. Company insiders own 2.85% of the company’s stock.

Exelixis Price Performance

Shares of EXEL opened at $37.01 on Thursday. The firm’s 50 day moving average is $35.69 and its 200-day moving average is $33.12. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $40.02. The stock has a market capitalization of $10.36 billion, a P/E ratio of 20.91, a P/E/G ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, equities research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

EXEL has been the subject of several analyst reports. Oppenheimer downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $41.00 to $33.00 in a report on Friday, January 24th. Brookline Capital Management assumed coverage on shares of Exelixis in a research note on Monday, December 23rd. They set a “buy” rating for the company. Piper Sandler upped their target price on shares of Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of Exelixis in a report on Thursday, February 13th. Finally, Guggenheim reissued a “buy” rating and issued a $42.00 price objective on shares of Exelixis in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.59.

Exelixis Profile

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.