Jupiter Asset Management Ltd. Sells 1,817,061 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Jupiter Asset Management Ltd. decreased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 81.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 419,951 shares of the biotechnology company's stock after selling 1,817,061 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.15% of Exelixis worth $13,984,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. USA Financial Formulas bought a new position in shares of Exelixis in the fourth quarter valued at about $32,000. Principal Securities Inc. lifted its position in Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 373 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Exelixis during the fourth quarter worth approximately $39,000. Brooklyn Investment Group bought a new stake in shares of Exelixis during the third quarter worth approximately $42,000. Finally, UMB Bank n.a. grew its position in shares of Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock valued at $45,000 after purchasing an additional 553 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Analysts Set New Price Targets

EXEL has been the subject of several recent research reports. UBS Group boosted their price target on Exelixis from $30.00 to $34.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Stephens reissued an "equal weight" rating and issued a $29.00 target price on shares of Exelixis in a research report on Wednesday, February 12th. BMO Capital Markets downgraded shares of Exelixis from an "outperform" rating to a "market perform" rating and upped their price target for the company from $36.00 to $40.00 in a research note on Friday, December 20th. Piper Sandler lifted their price objective on shares of Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, JMP Securities restated a "market outperform" rating and set a $41.00 target price on shares of Exelixis in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $37.59.

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Insiders Place Their Bets

In other news, 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 transaction of $425,884.80. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $38.80, for a total transaction of $388,000.00. Following the completion of the transaction, the executive vice president now owns 341,028 shares of the company's stock, valued at approximately $13,231,886.40. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,343 shares of company stock valued at $5,177,234 in the last 90 days. Corporate insiders own 2.85% of the company's stock.

Exelixis Stock Performance

Shares of Exelixis stock traded down $0.15 during midday trading on Friday, hitting $36.65. 1,994,270 shares of the company traded hands, compared to its average volume of 2,071,801. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.13 and a beta of 0.57. The firm's fifty day moving average price is $35.36 and its 200-day moving average price is $32.48. Exelixis, Inc. has a 12 month low of $20.14 and a 12 month high of $40.02.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly 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 return on equity of 23.52% and a net margin of 24.04%. Equities research analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current year.

About Exelixis

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.