EMC Capital Management Sells 1,241 Shares of Exelixis, Inc. (NASDAQ:EXEL)

EMC Capital Management decreased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 11.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,961 shares of the biotechnology company’s stock after selling 1,241 shares during the period. EMC Capital Management’s holdings in Exelixis were worth $332,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Exelixis by 18.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after buying an additional 290 shares in the last quarter. Covestor Ltd boosted its stake in Exelixis by 5.7% during the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after acquiring an additional 341 shares in the last quarter. Fifth Third Bancorp increased its stake in Exelixis by 16.1% in the fourth quarter. Fifth Third Bancorp now owns 3,231 shares of the biotechnology company’s stock valued at $108,000 after purchasing an additional 449 shares in the last quarter. Creative Planning raised its holdings in shares of Exelixis by 0.8% during the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock valued at $1,611,000 after purchasing an additional 548 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Exelixis by 68.4% during the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 553 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EXEL. Piper Sandler upped their price target on Exelixis from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Truist Financial increased their target price on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Exelixis in a research note on Monday. Finally, Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $41.00 to $33.00 in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and an average target price of $36.06.

Insider Activity

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This represents a 10.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dana Aftab sold 96,986 shares of Exelixis stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total value of $3,394,510.00. Following the completion of the sale, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at approximately $17,463,075. This trade represents a 16.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,574 shares of company stock valued at $10,102,874 in the last three months. Company insiders own 2.85% of the company’s stock.

Exelixis Price Performance

Shares of Exelixis stock opened at $33.18 on Thursday. The firm has a market cap of $9.48 billion, a PE ratio of 21.25, a P/E/G ratio of 0.72 and a beta of 0.53. Exelixis, Inc. has a 1 year low of $20.01 and a 1 year high of $37.59. The stock has a fifty day moving average price of $34.77 and a 200-day moving average price of $29.99.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. As a group, equities analysts anticipate that Exelixis, Inc. will post 1.74 EPS for the current fiscal year.

About Exelixis

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.