Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 74.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,393 shares of the biotechnology company's stock after selling 38,998 shares during the period. Y Intercept Hong Kong Ltd's holdings in Exelixis were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in EXEL. LSV Asset Management increased its position in Exelixis by 107.7% during the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company's stock valued at $129,511,000 after buying an additional 2,989,021 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company's stock valued at $46,473,000 after purchasing an additional 991,494 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Exelixis in the third quarter valued at about $14,979,000. Farallon Capital Management LLC increased its holdings in shares of Exelixis by 1.6% in the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company's stock valued at $608,993,000 after purchasing an additional 424,000 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Exelixis by 12.7% in the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company's stock valued at $73,425,000 after purchasing an additional 370,199 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares of the company's stock, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now directly owns 486,059 shares of the company's stock, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 339,736 shares of company stock worth $11,508,610 over the last quarter. 2.85% of the stock is currently owned by corporate insiders.

Exelixis Price Performance

EXEL stock traded down $1.03 during mid-day trading on Wednesday, reaching $33.66. 2,638,769 shares of the company's stock were exchanged, compared to its average volume of 2,056,410. The company has a market cap of $9.61 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The stock's 50 day moving average is $33.04 and its 200 day moving average is $27.38. Exelixis, Inc. has a 12-month low of $19.20 and a 12-month high of $36.97.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. The company had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. Exelixis's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 earnings per share. On average, research analysts forecast that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EXEL shares. TD Cowen increased their price objective on Exelixis from $27.00 to $34.00 and gave the company a "buy" rating in a report on Monday, October 21st. The Goldman Sachs Group raised Exelixis to a "strong sell" rating in a report on Tuesday, October 15th. UBS Group started coverage on Exelixis in a report on Thursday, September 19th. They issued a "neutral" rating and a $30.00 price objective on the stock. BMO Capital Markets increased their price objective on Exelixis from $29.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $34.00 target price on shares of Exelixis in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.88.

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.