Marietta Investment Partners LLC Purchases Shares of 54,294 Exelixis, Inc. (NASDAQ:EXEL)

Marietta Investment Partners LLC purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,294 shares of the biotechnology company’s stock, valued at approximately $1,808,000.

A number of other large investors also recently bought and sold shares of EXEL. Victory Capital Management Inc. lifted its holdings in Exelixis by 16.6% in the third quarter. Victory Capital Management Inc. now owns 136,178 shares of the biotechnology company’s stock valued at $3,534,000 after acquiring an additional 19,372 shares during the period. CIBC Asset Management Inc acquired a new position in shares of Exelixis during the 3rd quarter worth approximately $227,000. Natixis Advisors LLC raised its stake in shares of Exelixis by 26.2% during the 3rd quarter. Natixis Advisors LLC now owns 29,113 shares of the biotechnology company’s stock worth $755,000 after buying an additional 6,051 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Exelixis during the 3rd quarter worth approximately $1,972,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Exelixis by 3.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock worth $515,000 after buying an additional 609 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Exelixis

In related news, CFO Christopher J. Senner sold 29,314 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the transaction, the chief financial officer now owns 779,607 shares of the company’s stock, valued at approximately $28,174,996.98. This represents a 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the transaction, the executive vice president now directly owns 341,028 shares in the company, valued at approximately $13,231,886.40. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,343 shares of company stock worth $5,177,234. 2.85% of the stock is currently owned by company insiders.

Exelixis Trading Down 0.6 %

NASDAQ EXEL opened at $36.96 on Friday. The stock has a market cap of $10.34 billion, a PE ratio of 20.88, a P/E/G ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $40.02. The stock has a fifty day simple moving average of $35.61 and a 200-day simple moving average of $32.82.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Research analysts predict that Exelixis, Inc. will post 2.04 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on EXEL. Guggenheim reaffirmed a “buy” rating and set a $42.00 target price on shares of Exelixis in a research note on Wednesday, February 12th. Bank of America downgraded Exelixis from a “buy” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th. Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $30.00 to $40.00 in a research note on Monday, January 27th. Truist Financial increased their price objective on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Oppenheimer downgraded Exelixis from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $41.00 to $33.00 in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

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.