Marietta Investment Partners LLC Decreases Stock Position in Exelixis, Inc. $EXEL

Marietta Investment Partners LLC cut its position in Exelixis, Inc. (NASDAQ:EXEL) by 51.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,944 shares of the biotechnology company’s stock after selling 9,640 shares during the period. Marietta Investment Partners LLC’s holdings in Exelixis were worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. RHS Financial LLC raised its stake in Exelixis by 2.4% in the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock valued at $553,000 after purchasing an additional 293 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in Exelixis by 5.8% during the 4th quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock worth $237,000 after purchasing an additional 298 shares during the last quarter. Cim LLC boosted its stake in Exelixis by 0.9% during the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after purchasing an additional 305 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Exelixis by 6.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company’s stock worth $235,000 after buying an additional 329 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its holdings in shares of Exelixis by 3.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 9,077 shares of the biotechnology company’s stock worth $389,000 after buying an additional 333 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 32,110 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total value of $1,599,399.10. Following the transaction, the executive vice president directly owned 357,638 shares in the company, valued at $17,813,948.78. The trade was a 8.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dana Aftab sold 43,451 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the completion of the sale, the executive vice president directly owned 594,741 shares of the company’s stock, valued at approximately $29,945,209.35. This trade represents a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 219,170 shares of company stock valued at $10,620,641 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Exelixis Price Performance

NASDAQ EXEL opened at $55.85 on Monday. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $56.21. The business’s fifty day simple moving average is $50.56 and its 200-day simple moving average is $46.00. The firm has a market cap of $14.04 billion, a PE ratio of 18.55, a P/E/G ratio of 1.61 and a beta of 0.42.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on EXEL. Barclays raised their price target on shares of Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Morgan Stanley reaffirmed a “positive” rating on shares of Exelixis in a research note on Monday, June 22nd. Truist Financial downgraded shares of Exelixis from a “buy” rating to a “hold” rating and increased their price objective for the company from $51.00 to $54.00 in a report on Thursday, June 25th. Wells Fargo & Company raised their target price on shares of Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Exelixis presently has an average rating of “Hold” and a consensus target price of $47.60.

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.