Connor Clark & Lunn Investment Management Ltd. Sells 49,770 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 65.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,225 shares of the biotechnology company's stock after selling 49,770 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Exelixis were worth $873,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of EXEL. FMR LLC boosted its holdings in shares of Exelixis by 6.1% during the third quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company's stock worth $63,891,000 after purchasing an additional 140,568 shares during the period. Los Angeles Capital Management LLC raised its position in Exelixis by 20.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,156,996 shares of the biotechnology company's stock valued at $71,828,000 after purchasing an additional 366,141 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Exelixis by 6.1% in the 3rd quarter. Two Sigma Advisers LP now owns 1,702,590 shares of the biotechnology company's stock worth $44,182,000 after buying an additional 98,000 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in 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 worth $52,884,000 after buying an additional 704,786 shares during the period. Finally, Systematic Financial Management LP grew its position in shares of Exelixis by 7.1% in the 3rd quarter. Systematic Financial Management LP now owns 1,168,391 shares of the biotechnology company's stock worth $30,320,000 after buying an additional 77,599 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Exelixis

In related news, Director Mary C. Beckerle sold 12,210 shares of the stock in a transaction 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 of the company's stock, valued at $1,060,561.28. This trade represents a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Senner sold 29,314 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $36.14, for a total value of $1,059,407.96. Following the completion of the transaction, the chief financial officer now directly owns 779,607 shares of the company's stock, valued at approximately $28,174,996.98. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,343 shares of company stock worth $5,177,234. Insiders own 2.85% of the company's stock.

Exelixis Price Performance

EXEL stock traded down $0.01 during trading on Tuesday, hitting $37.71. 2,520,047 shares of the stock traded hands, compared to its average volume of 2,088,242. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of 21.31, 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. The firm's 50 day moving average is $35.66 and its two-hundred day moving average is $33.00.

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 net margin of 24.04% and a return on equity of 23.52%. As a group, analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

EXEL has been the subject of a number of research analyst reports. Stephens reaffirmed an "equal weight" rating and issued a $29.00 price target on shares of Exelixis in a research note on Wednesday, February 12th. Oppenheimer cut shares of Exelixis from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. StockNews.com raised shares of Exelixis from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 19th. Barclays increased their price target on shares of Exelixis from $25.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 13th. Finally, Bank of America cut Exelixis from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $37.59.

Exelixis Company 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.