NEOS Investment Management LLC Acquires 8,674 Shares of Exelixis, Inc. (NASDAQ:EXEL)

NEOS Investment Management LLC grew its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 21.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 49,256 shares of the biotechnology company’s stock after acquiring an additional 8,674 shares during the period. NEOS Investment Management LLC’s holdings in Exelixis were worth $1,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. USA Financial Formulas bought a new stake in Exelixis in the fourth quarter valued at $32,000. Principal Securities Inc. boosted its stake in shares of Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 373 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Exelixis in the 4th quarter worth about $39,000. Brooklyn Investment Group acquired a new stake in shares of Exelixis during the 3rd quarter worth about $42,000. Finally, UMB Bank n.a. lifted its holdings in Exelixis by 68.4% during the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 553 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Trading Down 0.4 %

NASDAQ:EXEL opened at $36.70 on Friday. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.13 and a beta of 0.57. The business’s 50-day moving average price is $35.71 and its two-hundred day moving average price is $33.27. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.02.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) 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 predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EXEL shares. Piper Sandler upped their price objective on shares of Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Truist Financial increased their price target on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Oppenheimer downgraded Exelixis from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $41.00 to $33.00 in a research report on Friday, January 24th. Royal Bank of Canada increased their target price on Exelixis from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, March 13th. Finally, Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and lifted their price target for the company from $35.00 to $39.00 in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.59.

Insiders Place Their Bets

In other news, Director Bob Oliver sold 18,647 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $37.25, for a total transaction of $694,600.75. Following the completion of the sale, the director now owns 33,514 shares of the company’s stock, valued at $1,248,396.50. This represents a 35.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Senner sold 29,314 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the completion of the sale, the chief financial officer now directly owns 779,607 shares in the company, valued at $28,174,996.98. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,343 shares of company stock worth $5,177,234 over the last ninety days. 2.85% of the stock is currently owned by corporate insiders.

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.