Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,278,910 shares of the biotechnology company’s stock after selling 101,111 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.42% of Exelixis worth $30,349,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Exelixis in the 4th quarter worth $73,449,000. Los Angeles Capital Management LLC increased its stake in shares of Exelixis by 948.3% during the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after purchasing an additional 2,220,150 shares in the last quarter. abrdn plc acquired a new position in shares of Exelixis during the 4th quarter worth about $15,997,000. First Trust Advisors LP lifted its stake in Exelixis by 18.5% in the 4th quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock valued at $75,635,000 after buying an additional 492,613 shares in the last quarter. Finally, Braun Stacey Associates Inc. acquired a new stake in Exelixis in the 4th quarter worth about $10,414,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $27.00 target price on shares of Exelixis in a research report on Wednesday, April 10th. TD Cowen boosted their price target on shares of Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Exelixis in a report on Friday, May 3rd. Barclays cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a report on Thursday, April 11th. Finally, TheStreet raised Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.13.

Insiders Place Their Bets

In related news, Director David Edward Johnson bought 225,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was acquired at an average price of $20.76 per share, for a total transaction of $4,671,000.00. Following the acquisition, the director now owns 1,525,730 shares in the company, valued at approximately $31,674,154.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director David Edward Johnson bought 225,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $20.76 per share, with a total value of $4,671,000.00. Following the transaction, the director now directly owns 1,525,730 shares in the company, valued at $31,674,154.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director George Poste sold 11,686 shares of Exelixis stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $20.96, for a total value of $244,938.56. Following the transaction, the director now directly owns 213,907 shares in the company, valued at approximately $4,483,490.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,896 shares of company stock valued at $660,677. 2.85% of the stock is owned by corporate insiders.

Exelixis Trading Down 0.9 %

Shares of EXEL stock opened at $21.96 on Friday. The company has a market cap of $6.66 billion, a P/E ratio of 34.31, a PEG ratio of 0.54 and a beta of 0.54. The firm has a fifty day moving average price of $21.76 and a 200 day moving average price of $22.31. Exelixis, Inc. has a 12 month low of $18.64 and a 12 month high of $24.34.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.16). Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The business had revenue of $425.23 million for the quarter, compared to analyst estimates of $461.04 million. During the same period in the prior year, the company posted $0.12 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that Exelixis, Inc. will post 1.15 EPS for the current year.

About Exelixis

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.