Russell Investments Group Ltd. Sells 2,914 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Posted by on May 13th, 2023

Russell Investments Group Ltd. trimmed its stake in shares of Exelixis, Inc. (NASDAQ:EXEL – Get Rating) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 628,108 shares of the biotechnology company’s stock after selling 2,914 shares during the quarter. Russell Investments Group Ltd. owned about 0.19% of Exelixis worth $10,075,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Exelixis by 6.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,035,449 shares of the biotechnology company’s stock valued at $63,279,000 after acquiring an additional 255,886 shares during the period. Trexquant Investment LP raised its holdings in shares of Exelixis by 33.4% during the 3rd quarter. Trexquant Investment LP now owns 163,738 shares of the biotechnology company’s stock worth $2,567,000 after buying an additional 40,958 shares in the last quarter. Brinker Capital Investments LLC raised its holdings in shares of Exelixis by 5.5% during the 4th quarter. Brinker Capital Investments LLC now owns 146,605 shares of the biotechnology company’s stock worth $2,352,000 after buying an additional 7,671 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Exelixis by 3.3% during the 4th quarter. ProShare Advisors LLC now owns 51,440 shares of the biotechnology company’s stock worth $825,000 after buying an additional 1,656 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of Exelixis by 187.5% during the 3rd quarter. Verition Fund Management LLC now owns 37,705 shares of the biotechnology company’s stock worth $591,000 after buying an additional 24,589 shares in the last quarter. 84.74% of the stock is currently owned by institutional investors.

Exelixis Price Performance

Shares of Exelixis stock opened at $19.18 on Friday. The stock’s 50-day moving average is $18.72 and its 200 day moving average is $17.46. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 0.78 and a beta of 0.68. Exelixis, Inc. has a one year low of $14.87 and a one year high of $22.47.

Exelixis (NASDAQ:EXEL – Get Rating) last announced its quarterly earnings results on Tuesday, February 7th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The firm had revenue of $423.92 million during the quarter, compared to the consensus estimate of $418.71 million. Exelixis had a return on equity of 7.54% and a net margin of 11.31%. The firm’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS. On average, sell-side analysts expect that Exelixis, Inc. will post 0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. EF Hutton Acquisition Co. I reissued a “buy” rating and set a $24.00 price target on shares of Exelixis in a report on Friday, March 3rd. Morgan Stanley lowered their target price on Exelixis from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Wednesday, April 12th. Credit Suisse Group initiated coverage on Exelixis in a report on Thursday, January 26th. They issued an “outperform” rating and a $29.00 target price for the company. JMP Securities lowered their target price on Exelixis from $25.00 to $24.00 and set a “market outperform” rating for the company in a report on Thursday, January 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $32.00 target price on shares of Exelixis in a report on Wednesday, February 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Insider Transactions at Exelixis

In other news, Director Jack L. Wyszomierski sold 15,300 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $16.61, for a total value of $254,133.00. Following the completion of the sale, the director now directly owns 317,467 shares of the company’s stock, valued at $5,273,126.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Jack L. Wyszomierski sold 15,300 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $16.61, for a total transaction of $254,133.00. Following the completion of the sale, the director now directly owns 317,467 shares of the company’s stock, valued at $5,273,126.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan M. Garber sold 40,000 shares of the stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $17.49, for a total value of $699,600.00. Following the sale, the director now directly owns 31,417 shares of the company’s stock, valued at $549,483.33. The disclosure for this sale can be found here. Insiders sold a total of 172,100 shares of company stock valued at $3,066,639 over the last ninety days. 2.90% of the stock is currently owned by insiders.

About Exelixis

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Exelixis, Inc operates as an oncology company, which focuses on discovering, developing, and commercialization of new medicines for difficult-to-treat cancers. Its products include cabometyx, cometriq, and cotellic. The company was founded by Stelios Papadopoulos on November 15, 1994, and is headquartered in Alameda, CA.

Further Reading

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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