QRG Capital Management Inc. Trims Holdings in Exelixis, Inc. $EXEL

QRG Capital Management Inc. decreased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 53.8% in the third quarter, HoldingsChannel reports. The firm owned 24,762 shares of the biotechnology company’s stock after selling 28,885 shares during the quarter. QRG Capital Management Inc.’s holdings in Exelixis were worth $1,023,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Evergreen Capital Management LLC raised its position in Exelixis by 6.4% during the 3rd quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company’s stock worth $225,000 after buying an additional 329 shares during the last quarter. Richardson Financial Services Inc. increased its stake in shares of Exelixis by 95.1% in the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 292 shares during the period. Ritholtz Wealth Management raised its holdings in shares of Exelixis by 29.1% during the third quarter. Ritholtz Wealth Management now owns 87,243 shares of the biotechnology company’s stock worth $3,603,000 after purchasing an additional 19,662 shares during the last quarter. Nwam LLC purchased a new position in shares of Exelixis during the third quarter worth $251,000. Finally, Versant Capital Management Inc lifted its position in Exelixis by 161.8% during the third quarter. Versant Capital Management Inc now owns 1,631 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 1,008 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Trading Down 0.4%

Shares of EXEL opened at $43.78 on Wednesday. The firm has a market cap of $11.74 billion, a P/E ratio of 18.47, a PEG ratio of 0.79 and a beta of 0.40. Exelixis, Inc. has a 12 month low of $31.90 and a 12 month high of $49.62. The stock’s 50 day moving average is $43.60 and its two-hundred day moving average is $41.07.

Exelixis (NASDAQ:EXEL) last announced 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. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The firm had revenue of $597.76 million for the quarter, compared to analyst estimates of $590.04 million. During the same quarter last year, the firm posted $0.47 EPS. The business’s revenue was up 10.8% on a year-over-year basis. Equities research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on EXEL shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research report on Wednesday, October 8th. Wolfe Research initiated coverage on Exelixis in a report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Truist Financial set a $51.00 price target on Exelixis in a report on Wednesday, January 14th. Morgan Stanley restated an “equal weight” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Exelixis in a research report on Thursday, January 8th. Finally, Barclays lifted their target price on shares of Exelixis from $40.00 to $41.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Exelixis presently has a consensus rating of “Hold” and a consensus price target of $45.95.

Insider Activity at Exelixis

In other news, EVP Dana Aftab sold 48,383 shares of Exelixis stock in a transaction dated 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 sale, the executive vice president owned 664,778 shares in the company, valued at $28,253,065. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stelios Papadopoulos sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total transaction of $4,355,000.00. Following the sale, the director directly owned 1,189,228 shares of the company’s stock, valued at $51,790,879.40. This represents a 7.76% decrease in their position. 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 valued at $10,490,600. 2.85% of the stock is currently owned by company insiders.

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.