Hussman Strategic Advisors Inc. Lowers Stake in Exelixis, Inc. (NASDAQ:EXEL)

Hussman Strategic Advisors Inc. trimmed its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 50.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,000 shares of the biotechnology company's stock after selling 63,000 shares during the quarter. Hussman Strategic Advisors Inc.'s holdings in Exelixis were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ieq Capital LLC bought a new position in shares of Exelixis during the 4th quarter worth approximately $6,466,000. Convergence Investment Partners LLC bought a new stake in Exelixis in the fourth quarter valued at $782,000. Kestra Investment Management LLC bought a new position in shares of Exelixis during the 4th quarter worth about $39,000. Truist Financial Corp boosted its position in shares of Exelixis by 31.7% during the 4th quarter. Truist Financial Corp now owns 18,169 shares of the biotechnology company's stock worth $605,000 after purchasing an additional 4,378 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Exelixis by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 9,210 shares of the biotechnology company's stock valued at $307,000 after buying an additional 452 shares during the period. Institutional investors own 85.27% of the company's stock.

Exelixis Trading Up 5.0 %

Shares of NASDAQ:EXEL traded up $1.76 during mid-day trading on Friday, reaching $36.85. The company had a trading volume of 3,490,732 shares, compared to its average volume of 2,627,187. Exelixis, Inc. has a one year low of $20.14 and a one year high of $37.59. The company's 50-day moving average price is $34.20 and its 200-day moving average price is $31.23. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.13 and a beta of 0.53.

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

Wall Street Analysts Forecast Growth

EXEL has been the topic of several recent research reports. Bank of America lowered Exelixis from a "buy" rating to a "neutral" rating and increased their price target for the stock from $35.00 to $39.00 in a report on Tuesday, December 17th. Guggenheim reissued a "buy" rating and issued a $42.00 price target on shares of Exelixis in a research report on Wednesday, February 12th. Royal Bank of Canada restated an "outperform" rating and set a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. JMP Securities reiterated a "market outperform" rating and set a $41.00 price objective on shares of Exelixis in a report on Thursday, January 23rd. Finally, UBS Group upped their target price on shares of Exelixis from $30.00 to $34.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.24.

Insider Activity at Exelixis

In related news, Director Mary C. Beckerle sold 12,210 shares of Exelixis stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $34.88, for a total value of $425,884.80. Following the completion of the transaction, the director now directly owns 30,406 shares in the company, valued at approximately $1,060,561.28. The trade was a 28.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. 2.85% of the stock is currently owned by company insiders.

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.