AlphaQuest LLC Has $503,000 Position in Exelixis, Inc. (NASDAQ:EXEL)

AlphaQuest LLC lowered its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 49.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,115 shares of the biotechnology company’s stock after selling 14,718 shares during the quarter. AlphaQuest LLC’s holdings in Exelixis were worth $503,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Seizert Capital Partners LLC increased its stake in Exelixis by 8.0% in the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock valued at $12,195,000 after acquiring an additional 34,875 shares during the period. Tri Ri Asset Management Corp bought a new stake in Exelixis in the third quarter valued at about $4,396,000. Blue Trust Inc. increased its stake in Exelixis by 134.7% in the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock valued at $476,000 after acquiring an additional 8,208 shares during the period. Navellier & Associates Inc. bought a new stake in Exelixis in the third quarter valued at about $573,000. Finally, Intech Investment Management LLC increased its stake in Exelixis by 48.2% in the third quarter. Intech Investment Management LLC now owns 232,041 shares of the biotechnology company’s stock valued at $6,021,000 after acquiring an additional 75,489 shares during the period. Institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $37.20 on Thursday. The company’s 50 day simple moving average is $35.25 and its 200 day simple moving average is $32.33. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02. The firm has a market capitalization of $10.41 billion, a P/E ratio of 21.02, a P/E/G ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. Sell-side analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 19th. Truist Financial upped their price objective on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Stifel Nicolaus upped their price objective on shares of Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Guggenheim reaffirmed a “buy” rating and set a $42.00 price objective on shares of Exelixis in a research note on Wednesday, February 12th. Finally, Oppenheimer cut shares of Exelixis from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $41.00 to $33.00 in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.24.

Insider Activity at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 29,314 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.14, for a total value of $1,059,407.96. Following the sale, the chief financial officer now directly owns 779,607 shares in the company, valued at approximately $28,174,996.98. This trade represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $34.88, for a total transaction of $425,884.80. Following the completion of the sale, the director now owns 30,406 shares in the company, valued at approximately $1,060,561.28. This trade represents a 28.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock worth $5,177,234 over the last ninety days. Company insiders own 2.85% of the company’s stock.

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.