Y Intercept Hong Kong Ltd Takes Position in Exelixis, Inc. $EXEL

Y Intercept Hong Kong Ltd purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 42,984 shares of the biotechnology company’s stock, valued at approximately $1,775,000.

Several other hedge funds have also added to or reduced their stakes in EXEL. Norges Bank acquired a new position in Exelixis in the 2nd quarter valued at approximately $122,099,000. Qube Research & Technologies Ltd grew its stake in shares of Exelixis by 120.5% in the second quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock worth $134,306,000 after purchasing an additional 1,665,110 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Exelixis by 42.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock valued at $231,951,000 after purchasing an additional 1,580,567 shares during the period. Prudential Financial Inc. raised its position in Exelixis by 776.8% during the 2nd quarter. Prudential Financial Inc. now owns 1,468,865 shares of the biotechnology company’s stock worth $64,740,000 after purchasing an additional 1,301,330 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Exelixis by 38.2% in the 2nd quarter. Bank of America Corp DE now owns 2,638,666 shares of the biotechnology company’s stock valued at $116,299,000 after buying an additional 728,956 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Dana Aftab sold 48,383 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $42.50, for a total value of $2,056,277.50. Following the transaction, the executive vice president owned 664,778 shares in the company, valued at $28,253,065. This trade represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 28,043 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $42.58, for a total value of $1,194,070.94. Following the sale, the executive vice president owned 374,029 shares of the company’s stock, valued at $15,926,154.82. This trade represents a 6.97% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 245,235 shares of company stock valued at $10,490,600. 2.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EXEL has been the topic of a number of recent analyst reports. Oppenheimer reaffirmed a “market perform” rating and issued a $36.00 price objective on shares of Exelixis in a research note on Wednesday, November 5th. HC Wainwright increased their price objective on shares of Exelixis from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday. Truist Financial set a $51.00 price target on shares of Exelixis in a research report on Wednesday, January 14th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $45.00 price objective on shares of Exelixis in a research report on Tuesday, October 21st. Finally, Wolfe Research assumed coverage on Exelixis in a research report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Eleven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.95.

Exelixis Trading Down 0.9%

Shares of EXEL stock opened at $42.28 on Friday. The firm has a fifty day simple moving average of $43.78 and a two-hundred day simple moving average of $41.09. Exelixis, Inc. has a 12 month low of $32.38 and a 12 month high of $49.62. The firm has a market capitalization of $11.34 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 0.77 and a beta of 0.40.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The firm had revenue of $597.76 million during the quarter, compared to analysts’ expectations of $590.04 million. During the same period last year, the company earned $0.47 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, equities analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.