Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 38.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,650 shares of the biotechnology company's stock after selling 52,528 shares during the period. Victory Capital Management Inc.'s holdings in Exelixis were worth $2,786,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. USA Financial Formulas purchased a new stake in Exelixis in the 4th quarter worth approximately $32,000. Principal Securities Inc. increased its holdings in shares of Exelixis by 62.8% in the 4th 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 position in shares of Exelixis in the 4th quarter worth $39,000. Brooklyn Investment Group bought a new position in shares of Exelixis in the 3rd quarter worth $42,000. Finally, UMB Bank n.a. increased its holdings in shares of Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock worth $45,000 after buying an additional 553 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Up 1.0 %

Shares of Exelixis stock traded up $0.37 during midday trading on Monday, hitting $37.02. The company had a trading volume of 2,119,289 shares, compared to its average volume of 2,063,514. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $40.02. The company has a fifty day simple moving average of $35.36 and a 200 day simple moving average of $32.53. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 1.13 and a beta of 0.57.

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Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of Exelixis from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday. Guggenheim reaffirmed a "buy" rating and set a $42.00 target price on shares of Exelixis in a report on Wednesday, February 12th. Morgan Stanley raised shares of Exelixis from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $30.00 to $40.00 in a report on Monday, January 27th. Truist Financial increased their target price on shares of Exelixis from $42.00 to $43.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $40.00 target price on shares of Exelixis in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Exelixis presently has an average rating of "Moderate Buy" and a consensus price target of $37.59.

Insider Activity

In other news, Director Mary C. Beckerle sold 12,210 shares of Exelixis stock in a transaction on Friday, February 14th. The stock was sold at an average price of $34.88, for a total transaction of $425,884.80. Following the transaction, the director now owns 30,406 shares in the company, valued at $1,060,561.28. The trade was a 28.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the transaction, the executive vice president now owns 303,310 shares in the company, valued at approximately $11,216,403.80. This represents a 14.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock worth $5,177,234 in the last quarter. Corporate insiders own 2.85% of the company's stock.

Exelixis 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.