Tallon Kerry Patrick Invests $2.62 Million in Exelixis, Inc. (NASDAQ:EXEL)

Tallon Kerry Patrick acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 77,166 shares of the biotechnology company's stock, valued at approximately $2,619,000. Exelixis makes up about 2.5% of Tallon Kerry Patrick's portfolio, making the stock its 10th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC boosted its position in Exelixis by 45.3% during the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company's stock valued at $2,031,000 after purchasing an additional 28,126 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in shares of Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company's stock valued at $608,993,000 after buying an additional 424,000 shares during the last quarter. Seizert Capital Partners LLC grew its stake in shares of Exelixis by 8.0% in the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company's stock valued at $12,195,000 after buying an additional 34,875 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Exelixis by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company's stock worth $46,473,000 after buying an additional 991,494 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in Exelixis by 60.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company's stock worth $1,424,000 after acquiring an additional 20,641 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Trading Down 1.0 %

EXEL stock traded down $0.35 during mid-day trading on Friday, hitting $36.20. The stock had a trading volume of 2,864,795 shares, compared to its average volume of 2,643,572. The firm has a fifty day simple moving average of $34.97 and a 200 day simple moving average of $29.19. The firm has a market capitalization of $10.34 billion, a P/E ratio of 23.21, a P/E/G ratio of 0.87 and a beta of 0.53. Exelixis, Inc. has a 52 week low of $20.01 and a 52 week high of $37.59.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million for the quarter, compared to analysts' expectations of $490.31 million. During the same period last year, the firm posted $0.10 earnings per share. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts expect that Exelixis, Inc. will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Dana Aftab sold 1,162 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at $15,666,873. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the business's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the sale, the executive vice president now directly owns 278,665 shares in the company, valued at approximately $9,828,514.55. The trade was a 3.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 314,736 shares of company stock worth $10,849,110 in the last ninety days. 2.85% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Exelixis to a "strong sell" rating in a research report on Tuesday, October 15th. Truist Financial lifted their price target on Exelixis from $38.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Exelixis from $26.00 to $30.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Bank of America downgraded shares of Exelixis from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $35.00 to $39.00 in a report on Tuesday, December 17th. Finally, HC Wainwright raised their price objective on shares of Exelixis from $29.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Exelixis currently has a consensus rating of "Moderate Buy" and an average target price of $35.50.

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.