Jacobs Levy Equity Management Inc. Cuts Stake in Exelixis, Inc. (NASDAQ:EXEL)

Jacobs Levy Equity Management Inc. lowered its position in Exelixis, Inc. (NASDAQ:EXEL) by 27.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,506,084 shares of the biotechnology company’s stock after selling 576,199 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Exelixis were worth $50,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its stake in Exelixis by 18.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after buying an additional 290 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Exelixis by 1.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company’s stock worth $573,000 after buying an additional 317 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Exelixis by 4.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock worth $235,000 after buying an additional 330 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Exelixis by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 58,159 shares of the biotechnology company’s stock worth $1,937,000 after buying an additional 354 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after buying an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Dana Aftab sold 1,508 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $39.00, for a total transaction of $58,812.00. Following the completion of the transaction, the executive vice president now directly owns 693,181 shares in the company, valued at $27,034,059. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Haley sold 52,636 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were 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 of the company’s stock, valued at $11,216,403.80. The trade was a 14.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,851 shares of company stock worth $5,236,046. 2.82% of the stock is owned by corporate insiders.

Exelixis Trading Down 0.9%

EXEL opened at $36.17 on Monday. The stock has a fifty day simple moving average of $36.86 and a two-hundred day simple moving average of $35.42. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 1.13 and a beta of 0.25. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $40.26.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data 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 return on equity of 23.52% and a net margin of 24.04%. On average, analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EXEL. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Exelixis in a research note on Thursday, March 27th. Citigroup increased their price objective on Exelixis from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $30.00 to $40.00 in a research note on Monday, January 27th. Truist Financial increased their price objective on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Stifel Nicolaus increased their price objective on Exelixis from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Exelixis currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

Exelixis Company 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.