Allspring Global Investments Holdings LLC Decreases Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 24.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 858,004 shares of the biotechnology company’s stock after selling 279,296 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Exelixis were worth $22,265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fisher Asset Management LLC lifted its stake in shares of Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after buying an additional 728 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Exelixis in the third quarter worth about $30,000. Park Place Capital Corp purchased a new position in shares of Exelixis in the second quarter worth about $45,000. GAMMA Investing LLC lifted its stake in shares of Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,041 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its stake in shares of Exelixis by 537.2% in the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after buying an additional 1,746 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Exelixis

In related news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now owns 721,680 shares in the company, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now owns 721,680 shares in the company, valued at approximately $19,622,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the executive vice president now owns 520,990 shares of the company’s stock, valued at $13,024,750. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,858 shares of company stock worth $8,640,129. Corporate insiders own 2.85% of the company’s stock.

Exelixis Stock Performance

Shares of EXEL stock opened at $28.11 on Friday. The stock has a market capitalization of $8.52 billion, a P/E ratio of 43.92, a price-to-earnings-growth ratio of 0.54 and a beta of 0.54. The company has a 50 day moving average price of $26.58 and a 200 day moving average price of $23.97. Exelixis, Inc. has a fifty-two week low of $19.12 and a fifty-two week high of $29.75.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. The firm had revenue of $637.18 million during the quarter, compared to analysts’ expectations of $468.21 million. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. On average, research analysts forecast that Exelixis, Inc. will post 1.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group assumed coverage on shares of Exelixis in a research report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective for the company. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. Stifel Nicolaus raised their price objective on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer restated an “outperform” rating and set a $29.00 price objective on shares of Exelixis in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.57.

Exelixis 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.