Corebridge Financial Inc. Has $10.85 Million Position in Exelixis, Inc. (NASDAQ:EXEL)

Corebridge Financial Inc. lessened its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 325,795 shares of the biotechnology company's stock after selling 14,342 shares during the period. Corebridge Financial Inc. owned about 0.11% of Exelixis worth $10,849,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Exelixis by 18.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company's stock worth $63,000 after buying an additional 290 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Exelixis by 4.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company's stock worth $235,000 after purchasing an additional 330 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Exelixis by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 58,159 shares of the biotechnology company's stock worth $1,937,000 after purchasing an additional 354 shares during the last quarter. Principal Securities Inc. boosted its holdings in Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 373 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in Exelixis by 37.3% during the fourth quarter. V Square Quantitative Management LLC now owns 1,563 shares of the biotechnology company's stock valued at $52,000 after purchasing an additional 425 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, EVP Patrick J. Haley sold 52,636 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the sale, the executive vice president now owns 303,310 shares in the company, valued at approximately $11,216,403.80. This represents a 14.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack L. Wyszomierski sold 8,768 shares of Exelixis stock in a transaction on Friday, February 28th. The stock was sold at an average price of $37.80, for a total value of $331,430.40. Following the completion of the transaction, the director now owns 356,605 shares in the company, valued at $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. In the last quarter, insiders sold 140,343 shares of company stock worth $5,177,234. Corporate insiders own 2.85% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Oppenheimer lowered shares of Exelixis from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $41.00 to $33.00 in a report on Friday, January 24th. Morgan Stanley upgraded Exelixis from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $30.00 to $40.00 in a research note on Monday, January 27th. JMP Securities reiterated a "market outperform" rating and set a $41.00 price target on shares of Exelixis in a research report on Thursday, January 23rd. Bank of America lowered Exelixis from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. Finally, Piper Sandler increased their target price on Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $37.59.

Exelixis Stock Up 0.6 %

EXEL traded up $0.22 during trading on Monday, reaching $36.92. The stock had a trading volume of 3,118,979 shares, compared to its average volume of 2,142,872. The stock has a 50 day moving average of $35.72 and a two-hundred day moving average of $33.39. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.02.

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 for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. On average, research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

About Exelixis

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.