Dynamic Technology Lab Private Ltd Acquires Shares of 22,791 Exelixis, Inc. (NASDAQ:EXEL)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,791 shares of the biotechnology company's stock, valued at approximately $591,000.

Several other institutional investors have also modified their holdings of EXEL. Tidal Investments LLC raised its holdings in Exelixis by 10.0% during the 1st quarter. Tidal Investments LLC now owns 9,710 shares of the biotechnology company's stock valued at $230,000 after buying an additional 886 shares during the period. Swedbank AB purchased a new position in shares of Exelixis during the 1st quarter worth about $22,455,000. Cetera Advisors LLC bought a new position in Exelixis during the 1st quarter valued at about $327,000. DekaBank Deutsche Girozentrale grew its holdings in Exelixis by 13.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 429,690 shares of the biotechnology company's stock valued at $10,035,000 after purchasing an additional 49,597 shares during the last quarter. Finally, Park Place Capital Corp purchased a new stake in Exelixis in the 2nd quarter worth about $45,000. 85.27% of the stock is owned by institutional investors.

Exelixis Trading Up 1.5 %

Shares of NASDAQ:EXEL traded up $0.53 during trading on Friday, reaching $36.46. The stock had a trading volume of 1,691,874 shares, compared to its average volume of 2,070,603. The company has a market capitalization of $10.41 billion, a P/E ratio of 23.59, a PEG ratio of 0.90 and a beta of 0.51. The firm's 50-day simple moving average is $30.62 and its 200 day simple moving average is $25.97. Exelixis, Inc. has a one year low of $19.20 and a one year high of $36.97.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same period last year, the firm earned $0.10 earnings per share. Exelixis's revenue was up 14.3% compared to the same quarter last year. Equities research analysts forecast that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EXEL shares. Bank of America upped their target price on Exelixis from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Stifel Nicolaus increased their target price on Exelixis from $26.00 to $30.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Truist Financial boosted their target price on shares of Exelixis from $33.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Piper Sandler raised their price target on shares of Exelixis from $33.00 to $36.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price objective on shares of Exelixis from $29.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.44.

Insider Buying and Selling

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the transaction, the executive vice president now owns 605,325 shares in the company, valued at approximately $15,968,473.50. This represents a 3.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George Poste sold 30,000 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now directly owns 169,020 shares of the company's stock, valued at approximately $5,746,680. This represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,736 shares of company stock worth $9,308,410 in the last ninety days. 2.85% of the stock is owned by insiders.

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.