Exelixis, Inc. $EXEL Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in Exelixis, Inc. (NASDAQ:EXEL) by 83.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,726 shares of the biotechnology company’s stock after selling 86,410 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Exelixis were worth $732,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Exelixis by 10.3% in the 2nd quarter. AQR Capital Management LLC now owns 7,606,079 shares of the biotechnology company’s stock worth $335,238,000 after buying an additional 712,190 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Exelixis by 0.4% in the second quarter. Geode Capital Management LLC now owns 7,445,469 shares of the biotechnology company’s stock worth $328,196,000 after acquiring an additional 28,289 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Exelixis by 42.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock worth $231,951,000 after acquiring an additional 1,580,567 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Exelixis by 120.5% in the second quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock valued at $134,306,000 after purchasing an additional 1,665,110 shares during the last quarter. Finally, Norges Bank acquired a new stake in Exelixis during the 2nd quarter valued at approximately $122,099,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary C. Beckerle sold 24,622 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $41.93, for a total transaction of $1,032,400.46. Following the completion of the transaction, the director directly owned 21,380 shares in the company, valued at approximately $896,463.40. The trade was a 53.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dana Aftab sold 48,383 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total value of $2,056,277.50. Following the completion of the sale, the executive vice president owned 664,778 shares in the company, valued at approximately $28,253,065. This represents a 6.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 245,235 shares of company stock worth $10,490,600. 2.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on EXEL. Wells Fargo & Company cut their target price on Exelixis from $36.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Wolfe Research started coverage on shares of Exelixis in a report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 14th. Finally, Leerink Partners upgraded Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $45.95.

Exelixis Trading Up 0.5%

Shares of NASDAQ EXEL opened at $45.44 on Friday. Exelixis, Inc. has a 12-month low of $31.90 and a 12-month high of $49.62. The company has a market cap of $12.18 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 0.81 and a beta of 0.40. The stock’s 50 day simple moving average is $43.47 and its 200 day simple moving average is $41.14.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. The company had revenue of $597.76 million for the quarter, compared to analysts’ expectations of $590.04 million. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. As a group, equities analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Exelixis 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.