Exelixis, Inc. (NASDAQ:EXEL) Stock Holdings Cut by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 38.6% during the fourth quarter, according to its most recent 13F filing 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. USA Financial Formulas acquired a new stake in Exelixis in the 4th quarter valued at about $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 valued at $32,000 after acquiring an additional 373 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Exelixis in the 4th quarter valued at about $39,000. Brooklyn Investment Group purchased a new position in shares of Exelixis in the 3rd quarter valued at about $42,000. Finally, UMB Bank n.a. grew its stake in Exelixis by 68.4% during 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. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Stock Up 0.9 %

Shares of NASDAQ:EXEL traded up $0.32 during midday trading on Wednesday, reaching $36.68. The company's stock had a trading volume of 88,727 shares, compared to its average volume of 2,061,771. The business has a 50 day moving average price of $35.48 and a 200 day moving average price of $32.68. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $40.02. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57.

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Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly 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 anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EXEL shares. Barclays raised their price target on Exelixis from $25.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 13th. Bank of America downgraded Exelixis from a "buy" rating to a "neutral" rating and raised their price target for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th. Guggenheim restated a "buy" rating and set a $42.00 price target on shares of Exelixis in a research note on Wednesday, February 12th. Piper Sandler lifted their target price on Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, BMO Capital Markets downgraded Exelixis from an "outperform" rating to a "market perform" rating and lifted their target price for the company from $36.00 to $40.00 in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.59.

Insiders Place Their Bets

In other Exelixis news, CFO Christopher J. Senner sold 29,314 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the sale, the chief financial officer now owns 779,607 shares in the company, valued at $28,174,996.98. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Patrick J. Haley sold 10,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now owns 341,028 shares in the company, valued at $13,231,886.40. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock worth $5,177,234 over the last quarter. 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.