Exelixis, Inc. (NASDAQ:EXEL) Stake Reduced by Boothbay Fund Management LLC

Boothbay Fund Management LLC trimmed its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 804,015 shares of the biotechnology company's stock after selling 10,945 shares during the quarter. Exelixis makes up approximately 0.7% of Boothbay Fund Management LLC's investment portfolio, making the stock its 14th largest position. Boothbay Fund Management LLC owned about 0.28% of Exelixis worth $26,774,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Tri Ri Asset Management Corp purchased a new position in Exelixis during the third quarter worth about $4,396,000. Blue Trust Inc. grew its holdings in Exelixis by 134.7% during the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock worth $476,000 after acquiring an additional 8,208 shares in the last quarter. Range Financial Group LLC acquired a new position in Exelixis during the 4th quarter worth approximately $994,000. Raymond James Financial Inc. acquired a new position in Exelixis during the 4th quarter worth approximately $17,046,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Exelixis by 82.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock valued at $52,884,000 after buying an additional 704,786 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Mary C. Beckerle sold 12,210 shares of Exelixis stock in a transaction that occurred on Friday, February 14th. The stock was 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 in the company, valued at $1,060,561.28. The trade was a 28.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the sale, the executive vice president now owns 303,310 shares in the company, valued at $11,216,403.80. This represents a 14.79 % 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 over the last ninety days. Corporate insiders own 2.85% of the company's stock.

Exelixis Stock Performance

Exelixis stock traded up $0.11 during trading on Tuesday, reaching $38.55. The company had a trading volume of 1,786,203 shares, compared to its average volume of 2,183,006. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $40.02. The stock's 50 day moving average price is $36.75 and its two-hundred day moving average price is $34.82. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EXEL. Piper Sandler upped 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. Barclays lifted their price objective on Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. JMP Securities reaffirmed a "market outperform" rating and issued a $41.00 price objective on shares of Exelixis in a report on Thursday, April 17th. HC Wainwright reissued a "buy" rating and set a $40.00 price target on shares of Exelixis in a research note on Thursday, March 27th. Finally, Wells Fargo & Company reaffirmed a "market outperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Exelixis currently has a consensus rating of "Moderate Buy" and an average price target of $37.59.

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.