Summit Global Investments Has $382,000 Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Summit Global Investments decreased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 55.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,483 shares of the biotechnology company's stock after selling 14,100 shares during the quarter. Summit Global Investments' holdings in Exelixis were worth $382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. USA Financial Formulas bought a new stake in Exelixis in the fourth quarter worth $32,000. Principal Securities Inc. lifted its position in shares of Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock worth $32,000 after buying an additional 373 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Exelixis during the 4th quarter worth about $39,000. Brooklyn Investment Group bought a new stake in shares of Exelixis during the 3rd quarter worth about $42,000. Finally, UMB Bank n.a. increased its holdings in shares of Exelixis by 68.4% during the 4th 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 last quarter. Institutional investors own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley upgraded Exelixis from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $30.00 to $40.00 in a report on Monday, January 27th. UBS Group raised their price target on Exelixis from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. JMP Securities reaffirmed a "market outperform" rating and issued a $41.00 target price on shares of Exelixis in a report on Thursday, January 23rd. StockNews.com raised Exelixis from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 19th. Finally, Stephens reissued an "equal weight" rating and set a $29.00 target price on shares of Exelixis in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.59.

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Exelixis Trading Up 2.1 %

Shares of Exelixis stock opened at $37.72 on Tuesday. The stock has a market capitalization of $10.56 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 1.13 and a beta of 0.57. The firm's 50-day moving average price is $35.66 and its two-hundred day moving average price is $33.00. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year 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 earnings per share 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, equities research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Activity

In other news, EVP Patrick J. Haley sold 52,636 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the sale, the executive vice president now directly owns 303,310 shares of the company's stock, valued at $11,216,403.80. This represents a 14.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary C. Beckerle sold 12,210 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $34.88, for a total transaction of $425,884.80. Following the completion of the sale, the director now directly owns 30,406 shares of the company's stock, valued at approximately $1,060,561.28. This represents a 28.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,343 shares of company stock worth $5,177,234. 2.85% of the stock is owned by corporate insiders.

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.

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