AlphaQuest LLC Reduces Holdings in Exelixis, Inc. (NASDAQ:EXEL)

AlphaQuest LLC lowered its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 49.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,115 shares of the biotechnology company's stock after selling 14,718 shares during the period. AlphaQuest LLC's holdings in Exelixis were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of EXEL. Entropy Technologies LP purchased a new stake in shares of Exelixis during the third quarter worth about $475,000. Victory Capital Management Inc. grew its stake in Exelixis by 16.6% during the 3rd quarter. Victory Capital Management Inc. now owns 136,178 shares of the biotechnology company's stock valued at $3,534,000 after acquiring an additional 19,372 shares in the last quarter. Buck Wealth Strategies LLC purchased a new stake in Exelixis during the 3rd quarter valued at about $221,000. CIBC Asset Management Inc purchased a new stake in Exelixis during the 3rd quarter valued at about $227,000. Finally, Natixis Advisors LLC grew its stake in Exelixis by 26.2% during the 3rd quarter. Natixis Advisors LLC now owns 29,113 shares of the biotechnology company's stock valued at $755,000 after acquiring an additional 6,051 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Buying and Selling

In related news, Director Mary C. Beckerle sold 12,210 shares of the company's 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 sale, the director now directly owns 30,406 shares of the company's stock, valued at $1,060,561.28. This represents a 28.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Senner sold 29,314 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the completion of the sale, the chief financial officer now directly owns 779,607 shares in the company, valued at approximately $28,174,996.98. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock valued at $5,177,234 in the last ninety days. Company insiders own 2.85% of the company's stock.

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Exelixis Trading Down 0.4 %

EXEL traded down $0.15 during trading hours on Friday, hitting $36.65. 1,994,270 shares of the company's stock were exchanged, compared to its average volume of 2,071,801. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $40.02. The firm has a 50 day moving average of $35.36 and a 200 day moving average of $32.48. The firm has a market cap of $10.26 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share 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, research analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EXEL has been the subject of several research reports. Truist Financial upped their price objective on shares of Exelixis from $42.00 to $43.00 and gave the company a "buy" rating in a research note on Monday, January 27th. HC Wainwright reaffirmed a "buy" rating and set a $40.00 price objective on shares of Exelixis in a research note on Thursday, February 13th. Royal Bank of Canada upped their price objective on shares of Exelixis from $38.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday. BMO Capital Markets lowered shares of Exelixis from an "outperform" rating to a "market perform" rating and boosted their target price for the company from $36.00 to $40.00 in a report on Friday, December 20th. Finally, Piper Sandler boosted their target price on shares of Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.59.

Exelixis Company 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.