AlphaQuest LLC Sells 14,718 Shares of Exelixis, Inc. (NASDAQ:EXEL)

AlphaQuest LLC cut its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 49.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,115 shares of the biotechnology company's stock after selling 14,718 shares during the quarter. AlphaQuest LLC's holdings in Exelixis were worth $503,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EXEL. USA Financial Formulas purchased a new stake in Exelixis during the fourth quarter valued at about $32,000. Principal Securities Inc. lifted its stake in Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock valued at $32,000 after buying an additional 373 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Exelixis during the fourth quarter valued at about $39,000. Brooklyn Investment Group purchased a new stake in Exelixis during the third quarter valued at about $42,000. Finally, UMB Bank n.a. lifted its position in shares of Exelixis by 68.4% in the fourth 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. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EXEL. Royal Bank of Canada increased their price target on shares of Exelixis from $38.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday. UBS Group increased their price target on shares of Exelixis from $30.00 to $34.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Guggenheim reissued a "buy" rating and issued a $42.00 price target on shares of Exelixis in a research report on Wednesday, February 12th. BMO Capital Markets lowered shares of Exelixis from an "outperform" rating to a "market perform" rating and increased their price target for the stock from $36.00 to $40.00 in a research report on Friday, December 20th. Finally, Truist Financial increased their price target on shares of Exelixis from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.59.

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Insider Transactions at Exelixis

In other Exelixis news, Director Bob Oliver sold 18,647 shares of Exelixis stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $37.25, for a total transaction of $694,600.75. Following the sale, the director now owns 33,514 shares in the company, valued at $1,248,396.50. The trade was a 35.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack L. Wyszomierski sold 8,768 shares of Exelixis stock in a transaction on Friday, February 28th. The shares were sold at an average price of $37.80, for a total value of $331,430.40. Following the transaction, the director now directly owns 356,605 shares of the company's stock, valued at approximately $13,479,669. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,343 shares of company stock worth $5,177,234. Insiders own 2.85% of the company's stock.

Exelixis Stock Down 0.4 %

EXEL stock traded down $0.15 during midday trading on Friday, hitting $36.65. 1,994,270 shares of the company traded hands, compared to its average volume of 2,071,801. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $40.02. The business has a 50 day simple moving average of $35.36 and a 200-day simple moving average of $32.48. The stock has a market capitalization of $10.26 billion, a price-to-earnings 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 quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) 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%. Equities research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current year.

Exelixis 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.