Quantbot Technologies LP Takes $149,000 Position in Exelixis, Inc. (NASDAQ:EXEL)

Quantbot Technologies LP bought a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,748 shares of the biotechnology company’s stock, valued at approximately $149,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Covestor Ltd increased its position in shares of Exelixis by 5.7% during the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after purchasing an additional 341 shares during the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Exelixis by 3.6% in the second quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company’s stock valued at $309,000 after buying an additional 477 shares in the last quarter. Cornercap Investment Counsel Inc. increased its holdings in Exelixis by 1.1% during the second quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock worth $1,135,000 after buying an additional 539 shares during the last quarter. Creative Planning raised its position in Exelixis by 0.8% during the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock worth $1,611,000 after acquiring an additional 548 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Exelixis by 3.2% in the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock valued at $515,000 after acquiring an additional 609 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Activity at Exelixis

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the sale, the executive vice president now owns 278,665 shares of the company’s stock, valued at $9,828,514.55. The trade was a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 339,736 shares of company stock valued at $11,508,610 over the last quarter. 2.85% of the stock is owned by corporate insiders.

Exelixis Trading Up 0.8 %

NASDAQ EXEL opened at $36.04 on Friday. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 0.89 and a beta of 0.52. The company has a 50 day moving average of $31.38 and a 200-day moving average of $26.42. Exelixis, Inc. has a 1-year low of $19.20 and a 1-year high of $36.97.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. On average, equities research analysts forecast that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EXEL. JMP Securities reaffirmed a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a report on Friday, October 11th. Stifel Nicolaus upped their price objective on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Truist Financial lifted their target price on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price target on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.44.

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.