Russell Investments Group Ltd. Sells 254,400 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Russell Investments Group Ltd. trimmed its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 25.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 725,968 shares of the biotechnology company's stock after selling 254,400 shares during the quarter. Russell Investments Group Ltd. owned 0.25% of Exelixis worth $24,227,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new position in shares of Exelixis during the 4th quarter worth approximately $32,000. Principal Securities Inc. grew its holdings 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 period. Kestra Investment Management LLC purchased a new position in Exelixis in the fourth quarter worth $39,000. UMB Bank n.a. lifted its holdings in 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 acquiring an additional 553 shares during the period. Finally, Crowley Wealth Management Inc. purchased a new stake in shares of Exelixis during the 4th quarter worth $50,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Performance

Shares of NASDAQ EXEL traded up $0.57 during mid-day trading on Monday, reaching $35.88. The company had a trading volume of 355,174 shares, compared to its average volume of 2,168,201. The stock has a fifty day moving average of $36.16 and a two-hundred day moving average of $34.01. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $40.02. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.13 and a beta of 0.57.

Remove Ads

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (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%. Sell-side analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In other news, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the sale, the executive vice president now directly owns 303,310 shares in the company, valued at $11,216,403.80. The trade was a 14.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack L. Wyszomierski sold 8,768 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $37.80, for a total value of $331,430.40. Following the completion of the sale, the director now directly owns 356,605 shares of the company's stock, valued at approximately $13,479,669. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,343 shares of company stock valued at $5,177,234. Insiders own 2.85% of the company's stock.

Analyst Upgrades and Downgrades

EXEL has been the subject of a number of research analyst reports. Wells Fargo & Company cut shares of Exelixis from an "overweight" rating to an "equal weight" rating and set a $36.00 target price for the company. in a report on Monday, February 24th. Piper Sandler upped their price target on Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Barclays lifted their price objective on Exelixis from $25.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, February 13th. Citigroup upped their target price on Exelixis from $38.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Bank of America lowered shares of Exelixis from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. One investment 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. Based on data from MarketBeat.com, Exelixis presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.59.

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.