Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 24.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 858,004 shares of the biotechnology company's stock after selling 279,296 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.28% of Exelixis worth $22,265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. LSV Asset Management grew its stake in Exelixis by 1,651.4% during the 1st quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company's stock valued at $65,844,000 after purchasing an additional 2,616,278 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Exelixis by 45.3% in the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company's stock worth $2,031,000 after buying an additional 28,126 shares during the period. Farallon Capital Management LLC raised its position in Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company's stock worth $608,993,000 after buying an additional 424,000 shares during the last quarter. Intech Investment Management LLC lifted its stake in Exelixis by 155.8% during the 1st quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company's stock valued at $2,374,000 after acquiring an additional 60,925 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Exelixis in the 1st quarter valued at $1,281,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Price Performance

NASDAQ EXEL traded down $0.24 during mid-day trading on Friday, hitting $27.87. The stock had a trading volume of 1,015,555 shares, compared to its average volume of 2,021,068. The firm's 50 day moving average is $26.58 and its 200 day moving average is $23.97. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 43.92, a PEG ratio of 0.54 and a beta of 0.54. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $29.75.

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

Analyst Upgrades and Downgrades

EXEL has been the topic of several recent research reports. Oppenheimer reaffirmed an "outperform" rating and issued a $29.00 price target on shares of Exelixis in a report on Tuesday, July 30th. Stifel Nicolaus lifted their price target on Exelixis from $26.00 to $30.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. StockNews.com raised shares of Exelixis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 13th. Royal Bank of Canada boosted their target price on shares of Exelixis from $30.00 to $34.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Finally, TD Cowen lifted their price objective on shares of Exelixis from $27.00 to $34.00 and gave the company a "buy" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $29.57.

Insiders Place Their Bets

In related news, EVP Dana Aftab sold 95,000 shares of the business's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the sale, the executive vice president now directly owns 520,990 shares in the company, valued at approximately $13,024,750. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the sale, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Senner sold 125,000 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now owns 721,680 shares of the company's stock, valued at approximately $19,622,479.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,858 shares of company stock valued at $8,640,129 over the last ninety days. Company insiders own 2.85% of the company's stock.

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.