Renaissance Technologies LLC Has $588.75 Million Stake in Exelixis, Inc. $EXEL

Renaissance Technologies LLC cut its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,726,993 shares of the biotechnology company’s stock after selling 187,050 shares during the quarter. Exelixis accounts for 0.9% of Renaissance Technologies LLC’s portfolio, making the stock its 7th biggest holding. Renaissance Technologies LLC owned approximately 5.46% of Exelixis worth $588,751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Compound Planning Inc. acquired a new position in Exelixis in the 1st quarter valued at approximately $257,000. Lido Advisors LLC acquired a new stake in shares of Exelixis during the 1st quarter worth approximately $250,000. State of Wyoming grew its holdings in shares of Exelixis by 17.9% during the 1st quarter. State of Wyoming now owns 9,524 shares of the biotechnology company’s stock worth $408,000 after purchasing an additional 1,444 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Exelixis by 17.4% during the first quarter. Cetera Investment Advisers now owns 169,881 shares of the biotechnology company’s stock valued at $7,286,000 after purchasing an additional 25,187 shares during the period. Finally, Signature Equity Partners LLC increased its position in shares of Exelixis by 55.2% during the first quarter. Signature Equity Partners LLC now owns 3,114 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 1,108 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EXEL. Weiss Ratings raised Exelixis from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, July 8th. Barclays boosted their price target on shares of Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. TD Cowen increased their price objective on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Citizens Jmp increased their price objective on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 24th. Finally, Truist Financial raised their price objective on shares of Exelixis from $54.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $49.00.

Insider Activity

In other Exelixis news, Director Maria C. Freire sold 20,634 shares of Exelixis stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $46.00, for a total transaction of $949,164.00. Following the completion of the transaction, the director directly owned 100,819 shares of the company’s stock, valued at approximately $4,637,674. This trade represents a 16.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dana Aftab sold 43,451 shares of the business’s stock in a transaction 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 completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 219,170 shares of company stock valued at $10,620,641. 2.60% of the stock is owned by company insiders.

Exelixis Trading Down 0.5%

Shares of EXEL opened at $55.37 on Friday. The stock has a market cap of $13.92 billion, a PE ratio of 18.40, a PEG ratio of 1.60 and a beta of 0.42. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The stock has a 50 day simple moving average of $53.16 and a 200-day simple moving average of $47.19.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The business had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. During the same quarter in the previous year, the firm earned $0.55 EPS. Exelixis’s quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that Exelixis, Inc. will post 3.16 EPS for the current fiscal 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.