Marietta Investment Partners LLC Purchases Shares of 54,294 Exelixis, Inc. (NASDAQ:EXEL)

Marietta Investment Partners LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 54,294 shares of the biotechnology company's stock, valued at approximately $1,808,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tri Ri Asset Management Corp bought a new stake in shares of Exelixis in the 3rd quarter worth approximately $4,396,000. Blue Trust Inc. grew its position in shares of Exelixis by 134.7% during the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock worth $476,000 after acquiring an additional 8,208 shares during the last quarter. Navellier & Associates Inc. acquired a new stake in shares of Exelixis in the 3rd quarter worth about $573,000. Intech Investment Management LLC lifted its position in Exelixis by 48.2% in the 3rd quarter. Intech Investment Management LLC now owns 232,041 shares of the biotechnology company's stock valued at $6,021,000 after purchasing an additional 75,489 shares during the last quarter. Finally, Range Financial Group LLC acquired a new position in Exelixis during the 4th quarter valued at about $994,000. 85.27% of the stock is owned by institutional investors.

Insider Activity at Exelixis

In related news, Director Bob Oliver sold 18,647 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $37.25, for a total transaction of $694,600.75. Following the completion of the sale, the director now directly owns 33,514 shares of the company's stock, valued at $1,248,396.50. The trade was a 35.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Patrick J. Haley sold 52,636 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the transaction, the executive vice president now owns 303,310 shares of the company's stock, valued at $11,216,403.80. The trade was a 14.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,343 shares of company stock valued at $5,177,234 in the last three months. Corporate insiders own 2.85% of the company's stock.

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Exelixis Stock Performance

Shares of NASDAQ:EXEL traded down $0.18 on Tuesday, hitting $37.54. The stock had a trading volume of 726,757 shares, compared to its average volume of 2,088,242. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The firm's 50 day moving average price is $35.66 and its 200-day moving average price is $33.00. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $40.02.

Exelixis (NASDAQ:EXEL - Get Free Report) last released 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, sell-side analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Wall Street Analyst Weigh In

EXEL has been the subject of a number of analyst reports. Barclays increased their price target on Exelixis from $25.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 13th. Piper Sandler raised their target price on shares of Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price target on shares of Exelixis in a research note on Thursday, February 13th. Bank of America cut Exelixis from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $35.00 to $39.00 in a report on Tuesday, December 17th. Finally, Citigroup upped their price objective on shares of Exelixis from $38.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.59.

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.