Sei Investments Co. Sells 153,719 Shares of Exelixis, Inc. $EXEL

Sei Investments Co. lessened its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 8.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,629,670 shares of the biotechnology company’s stock after selling 153,719 shares during the quarter. Sei Investments Co. owned 0.65% of Exelixis worth $69,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXEL. AQR Capital Management LLC raised its position in Exelixis by 48.8% in the fourth quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock worth $598,647,000 after acquiring an additional 4,477,029 shares during the period. Invesco Ltd. lifted its stake in Exelixis by 1.6% in the fourth quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock valued at $265,379,000 after purchasing an additional 94,218 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Exelixis by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock valued at $184,391,000 after purchasing an additional 39,920 shares during the period. Morgan Stanley increased its position in Exelixis by 31.0% in the fourth quarter. Morgan Stanley now owns 4,206,656 shares of the biotechnology company’s stock worth $184,378,000 after buying an additional 995,949 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Exelixis by 40.2% in the fourth quarter. UBS Group AG now owns 3,722,334 shares of the biotechnology company’s stock valued at $163,150,000 after buying an additional 1,067,265 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group reissued a “buy” rating on shares of Exelixis in a report on Thursday, July 2nd. Royal Bank Of Canada upped their target price on shares of Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. TD Cowen boosted their price target on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Morgan Stanley lifted their price objective on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Truist Financial upped their price objective on shares of Exelixis from $54.00 to $56.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Exelixis currently has a consensus rating of “Hold” and a consensus target price of $49.00.

Insider Transactions at Exelixis

In related news, EVP Dana Aftab sold 43,451 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the transaction, the executive vice president owned 594,741 shares in the company, valued at $29,945,209.35. This represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sue Gail Eckhardt sold 9,812 shares of Exelixis stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the sale, the director directly owned 16,079 shares of the company’s stock, valued at $806,201.06. The trade was a 37.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 219,170 shares of company stock valued at $10,620,641. Company insiders own 2.60% of the company’s stock.

Exelixis Trading Down 0.5%

EXEL stock opened at $55.37 on Friday. The stock has a market capitalization of $13.92 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.60 and a beta of 0.42. The firm’s 50-day moving average price is $53.16 and its two-hundred day moving average price is $47.19. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. During the same quarter in the previous year, the business posted $0.55 EPS. Exelixis’s revenue was up 10.0% compared to the same quarter last year. Equities analysts predict that Exelixis, Inc. will post 3.16 EPS for the current year.

Exelixis Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.