JPMorgan Chase & Co. Decreases Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

JPMorgan Chase & Co. decreased its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 25.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,314,575 shares of the biotechnology company's stock after selling 1,116,078 shares during the period. JPMorgan Chase & Co. owned approximately 1.16% of Exelixis worth $110,375,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EXEL. Principal Securities Inc. boosted its stake in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 373 shares during the last quarter. USA Financial Formulas bought a new position in shares of Exelixis during the fourth quarter valued at $32,000. Kestra Investment Management LLC purchased a new stake in shares of Exelixis during the fourth quarter valued at $39,000. UMB Bank n.a. increased its holdings in Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock worth $45,000 after buying an additional 553 shares in the last quarter. Finally, Crowley Wealth Management Inc. purchased a new position in Exelixis in the 4th quarter worth about $50,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Performance

Shares of Exelixis stock traded up $0.27 during trading hours on Monday, hitting $34.84. The company's stock had a trading volume of 2,918,691 shares, compared to its average volume of 2,152,747. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $40.02. The business has a 50 day moving average price of $35.94 and a two-hundred day moving average price of $33.70. The company has a market cap of $9.75 billion, a PE ratio of 19.68, a PEG ratio of 1.13 and a beta of 0.57.

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Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts' consensus estimates 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 anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction dated 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 directly owns 303,310 shares of the company's stock, valued at approximately $11,216,403.80. The trade was a 14.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary C. Beckerle sold 12,210 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $34.88, for a total value of $425,884.80. Following the completion of the sale, the director now owns 30,406 shares in the company, valued at $1,060,561.28. This represents a 28.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,343 shares of company stock worth $5,177,234. 2.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EXEL. Oppenheimer downgraded shares of Exelixis from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $41.00 to $33.00 in a report on Friday, January 24th. JMP Securities restated a "market outperform" rating and issued a $41.00 target price on shares of Exelixis in a report on Thursday, January 23rd. StockNews.com upgraded shares of Exelixis from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 19th. Barclays raised their price target on Exelixis from $25.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 13th. Finally, Guggenheim reiterated a "buy" rating and set a $42.00 price objective on shares of Exelixis in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Exelixis has an average rating of "Moderate Buy" and a consensus 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.