Truist Financial Corp Sells 45,349 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Truist Financial Corp decreased its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 79.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,813 shares of the biotechnology company's stock after selling 45,349 shares during the period. Truist Financial Corp's holdings in Exelixis were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EXEL. LSV Asset Management lifted its holdings in Exelixis by 107.7% during the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company's stock valued at $129,511,000 after purchasing an additional 2,989,021 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in Exelixis by 148.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company's stock valued at $53,817,000 after buying an additional 1,354,062 shares during the last quarter. Swedbank AB bought a new position in Exelixis in the 1st quarter valued at about $22,455,000. Susquehanna Fundamental Investments LLC acquired a new stake in Exelixis during the first quarter worth approximately $10,906,000. Finally, Farallon Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 424,000 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

Shares of EXEL stock opened at $28.90 on Friday. Exelixis, Inc. has a fifty-two week low of $18.64 and a fifty-two week high of $29.75. The stock's fifty day moving average price is $26.42 and its two-hundred day moving average price is $23.83. The company has a market cap of $8.76 billion, a PE ratio of 45.16, a P/E/G ratio of 0.54 and a beta of 0.54.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The business had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. On average, equities analysts predict that Exelixis, Inc. will post 1.59 EPS for the current fiscal year.

Insider Activity

In related news, Director Maria C. Freire sold 8,250 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total transaction of $219,120.00. Following the completion of the transaction, the director now directly owns 91,007 shares in the company, valued at $2,417,145.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now directly owns 721,680 shares in the company, valued at approximately $19,622,479.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maria C. Freire sold 8,250 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the sale, the director now owns 91,007 shares in the company, valued at approximately $2,417,145.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,858 shares of company stock worth $8,640,129. Corporate insiders own 2.85% of the company's stock.

Analyst Upgrades and Downgrades

EXEL has been the topic of a number of recent research reports. Stifel Nicolaus increased their target price on Exelixis from $26.00 to $30.00 and gave the stock a "hold" rating in a research note on Wednesday. JMP Securities reiterated a "market outperform" rating and set a $29.00 price objective on shares of Exelixis in a research report on Friday, October 11th. UBS Group began coverage on shares of Exelixis in a research report on Thursday, September 19th. They issued a "neutral" rating and a $30.00 target price for the company. Morgan Stanley raised their price target 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. Finally, Bank of America boosted their price objective on shares of Exelixis from $30.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $29.07.

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.