Harvest Fund Management Co. Ltd Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

Harvest Fund Management Co. Ltd bought a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 13,202 shares of the biotechnology company's stock, valued at approximately $440,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXEL. Allspring Global Investments Holdings LLC boosted its stake 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 during the period. Globeflex Capital L P raised its holdings in Exelixis by 203.8% in the fourth quarter. Globeflex Capital L P now owns 975,151 shares of the biotechnology company's stock valued at $32,473,000 after acquiring an additional 654,200 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in Exelixis in the third quarter worth approximately $14,979,000. Raymond James Financial Inc. acquired a new position in Exelixis during the 4th quarter worth approximately $17,046,000. Finally, Burney Co. purchased a new stake in shares of Exelixis in the 4th quarter valued at approximately $12,267,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Price Performance

Shares of EXEL stock traded down $0.54 during midday trading on Tuesday, hitting $37.19. The company had a trading volume of 456,036 shares, compared to its average volume of 2,088,242. The stock has a market cap of $10.41 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 1.13 and a beta of 0.57. The company's 50 day simple moving average is $35.66 and its 200 day simple moving average is $33.00. Exelixis, Inc. has a 52-week low of $20.14 and a 52-week high of $40.02.

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Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings data 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%. Analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EXEL shares. JMP Securities reaffirmed a "market outperform" rating and set a $41.00 price objective on shares of Exelixis in a research report on Thursday, January 23rd. Wells Fargo & Company downgraded Exelixis from an "overweight" rating to an "equal weight" rating and set a $36.00 price target for the company. in a report on Monday, February 24th. Royal Bank of Canada upped their price objective on Exelixis from $38.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, March 13th. BMO Capital Markets lowered Exelixis from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $36.00 to $40.00 in a research report on Friday, December 20th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $29.00 price target on shares of Exelixis in a 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 given a strong buy rating to the stock. According to MarketBeat.com, Exelixis has a consensus rating of "Moderate Buy" and an average target price of $37.59.

Insiders Place Their Bets

In related news, Director Mary C. Beckerle sold 12,210 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $34.88, for a total transaction of $425,884.80. Following the sale, the director now owns 30,406 shares of the company's stock, valued at approximately $1,060,561.28. The trade was a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Haley sold 10,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now owns 341,028 shares in the company, valued at approximately $13,231,886.40. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,343 shares of company stock worth $5,177,234. Company insiders own 2.85% of the company's stock.

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.