Exelixis, Inc. (NASDAQ:EXEL) Stake Lessened by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lessened its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 17.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,082,283 shares of the biotechnology company's stock after selling 438,900 shares during the period. Jacobs Levy Equity Management Inc. owned 0.73% of Exelixis worth $54,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of EXEL. Hsbc Holdings PLC raised its holdings in Exelixis by 45.3% during the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company's stock worth $2,031,000 after purchasing an additional 28,126 shares in the last quarter. Farallon Capital Management LLC raised its holdings in Exelixis by 1.6% during the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company's stock worth $608,993,000 after purchasing an additional 424,000 shares in the last quarter. Seizert Capital Partners LLC raised its holdings in Exelixis by 8.0% during the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company's stock worth $12,195,000 after purchasing an additional 34,875 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company's stock valued at $46,473,000 after buying an additional 991,494 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Exelixis by 60.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company's stock valued at $1,424,000 after buying an additional 20,641 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares of the company's stock, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the transaction, the executive vice president now directly owns 498,945 shares of the company's stock, valued at $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 339,736 shares of company stock valued at $11,508,610. Insiders own 2.85% of the company's stock.

Exelixis Price Performance

Exelixis stock traded up $0.51 during midday trading on Wednesday, hitting $35.77. 1,662,475 shares of the stock were exchanged, compared to its average volume of 2,068,694. Exelixis, Inc. has a 1 year low of $19.20 and a 1 year high of $36.97. The firm has a market cap of $10.22 billion, a P/E ratio of 22.60, a P/E/G ratio of 0.90 and a beta of 0.52. The company has a 50 day moving average price of $31.18 and a two-hundred day moving average price of $26.35.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm's quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts predict that Exelixis, Inc. will post 1.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EXEL shares. Guggenheim increased their price target on shares of Exelixis from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Truist Financial increased their price target on shares of Exelixis from $33.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Bank of America increased their price target on shares of Exelixis from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Stephens raised their target price on shares of Exelixis from $23.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.44.

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.