Vinva Investment Management Ltd Sells 2,536 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Vinva Investment Management Ltd cut its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,051 shares of the biotechnology company’s stock after selling 2,536 shares during the quarter. Vinva Investment Management Ltd’s holdings in Exelixis were worth $701,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EXEL. Allspring Global Investments Holdings LLC grew its holdings in shares of Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after buying an additional 704,786 shares in the last quarter. Globeflex Capital L P grew its stake in Exelixis by 203.8% in the fourth quarter. Globeflex Capital L P now owns 975,151 shares of the biotechnology company’s stock valued at $32,473,000 after purchasing an additional 654,200 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in Exelixis in the third quarter valued at approximately $14,979,000. Raymond James Financial Inc. bought a new position in Exelixis in the fourth quarter valued at approximately $17,046,000. Finally, Burney Co. bought a new position in Exelixis in the fourth quarter valued at approximately $12,267,000. 85.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Exelixis

In other news, Director Mary C. Beckerle sold 12,210 shares of Exelixis stock in a transaction on Friday, February 14th. The stock was sold at an average price of $34.88, for a total value of $425,884.80. Following the transaction, the director now owns 30,406 shares in the company, valued at approximately $1,060,561.28. This trade represents a 28.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher J. Senner sold 29,314 shares of Exelixis stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.14, for a total value of $1,059,407.96. Following the completion of the transaction, the chief financial officer now owns 779,607 shares in the company, valued at approximately $28,174,996.98. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,343 shares of company stock valued at $5,177,234 in the last three months. Corporate insiders own 2.85% of the company’s stock.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $36.96 on Friday. The stock has a market capitalization of $10.34 billion, a PE ratio of 20.88, a P/E/G ratio of 1.13 and a beta of 0.57. The business has a fifty day moving average price of $35.61 and a two-hundred day moving average price of $32.82. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02.

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

Wall Street Analysts Forecast Growth

EXEL has been the subject of a number of analyst reports. UBS Group raised their price target on Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Wells Fargo & Company downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a research note on Monday, February 24th. BMO Capital Markets cut Exelixis from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $36.00 to $40.00 in a research report on Friday, December 20th. Oppenheimer cut 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. Finally, Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and raised their price objective for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.59.

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.