Exelixis, Inc. (NASDAQ:EXEL) Stock Position Raised by Ergoteles LLC

Posted by Defense World Staff on Mar 4th, 2023

Ergoteles LLC lifted its stake in shares of Exelixis, Inc. (NASDAQ:EXEL – Get Rating) by 105.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,315 shares of the biotechnology company’s stock after acquiring an additional 10,944 shares during the quarter. Ergoteles LLC’s holdings in Exelixis were worth $334,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EXEL. Signaturefd LLC boosted its stake in shares of Exelixis by 400.7% during the 3rd quarter. Signaturefd LLC now owns 2,148 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 1,719 shares in the last quarter. Covestor Ltd boosted its stake in shares of Exelixis by 245.6% during the 1st quarter. Covestor Ltd now owns 1,676 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 1,191 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Exelixis during the 3rd quarter worth $46,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Exelixis during the 3rd quarter worth $47,000. Finally, Twin Tree Management LP bought a new stake in shares of Exelixis during the 3rd quarter worth $61,000. 84.74% of the stock is owned by institutional investors.

Exelixis Price Performance

NASDAQ EXEL opened at $17.15 on Friday. Exelixis, Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $23.40. The stock’s 50-day moving average is $17.03 and its two-hundred day moving average is $16.89. The firm has a market cap of $5.56 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 0.70 and a beta of 0.69.

Exelixis (NASDAQ:EXEL – Get Rating) last posted its earnings results on Tuesday, February 7th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). Exelixis had a net margin of 11.31% and a return on equity of 7.54%. The company had revenue of $423.92 million for the quarter, compared to the consensus estimate of $418.71 million. During the same quarter last year, the business earned $0.29 earnings per share. Exelixis’s quarterly revenue was down 6.0% on a year-over-year basis. On average, equities analysts expect that Exelixis, Inc. will post 0.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EXEL shares. StockNews.com raised Exelixis from a “hold” rating to a “buy” rating in a research report on Friday, February 24th. JMP Securities decreased their target price on Exelixis from $25.00 to $24.00 and set a “market outperform” rating for the company in a research report on Thursday, January 19th. EF Hutton Acquisition Co. I reiterated a “buy” rating and set a $24.00 price objective on shares of Exelixis in a report on Friday. Piper Sandler reiterated an “overweight” rating and set a $32.00 price objective on shares of Exelixis in a report on Wednesday, February 8th. Finally, Cowen cut their price objective on Exelixis from $21.00 to $20.00 in a report on Monday, January 9th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.27.

Insider Transactions at Exelixis

In other news, EVP Patrick J. Haley sold 25,000 shares of Exelixis stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $17.37, for a total value of $434,250.00. Following the transaction, the executive vice president now directly owns 254,414 shares in the company, valued at $4,419,171.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Jeffrey Hessekiel sold 77,860 shares of Exelixis stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $17.13, for a total value of $1,333,741.80. Following the transaction, the executive vice president now directly owns 527,716 shares in the company, valued at $9,039,775.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Haley sold 25,000 shares of Exelixis stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $17.37, for a total value of $434,250.00. Following the completion of the transaction, the executive vice president now owns 254,414 shares in the company, valued at $4,419,171.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,870 shares of company stock worth $3,496,567. Company insiders own 2.90% of the company’s stock.

About Exelixis

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Exelixis, Inc is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of COMETRIQ, CABOMETYX, COTELLIC, and MINNEBRO. The company was founded by Corey S. Goodman and Stelios B.