Sei Investments Co. Acquires 248,165 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Sei Investments Co. boosted its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 48.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 761,209 shares of the biotechnology company’s stock after buying an additional 248,165 shares during the quarter. Sei Investments Co.’s holdings in Exelixis were worth $25,350,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tri Ri Asset Management Corp bought a new position in shares of Exelixis during the 3rd quarter valued at approximately $4,396,000. Blue Trust Inc. grew its holdings in Exelixis by 134.7% during the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock valued at $476,000 after purchasing an additional 8,208 shares during the period. Range Financial Group LLC bought a new position in Exelixis during the fourth quarter valued at $994,000. FMR LLC increased its position in Exelixis by 6.1% in the third quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock worth $63,891,000 after buying an additional 140,568 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Exelixis by 82.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after buying an additional 704,786 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Patrick J. Haley sold 52,636 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the sale, the executive vice president now owns 303,310 shares of the company’s stock, valued at $11,216,403.80. This trade represents a 14.79 % 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, 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 transaction of $1,059,407.96. Following the completion of the sale, the chief financial officer now owns 779,607 shares in the company, valued at approximately $28,174,996.98. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,343 shares of company stock worth $5,177,234. 2.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EXEL. Piper Sandler increased their price target on Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Bank of America lowered shares of Exelixis from a “buy” rating to a “neutral” rating and increased their target price for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Exelixis in a research report on Thursday, February 13th. Brookline Capital Management started coverage on shares of Exelixis in a report on Monday, December 23rd. They issued a “buy” rating for the company. Finally, Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $30.00 to $40.00 in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.59.

Exelixis Stock Down 1.9 %

Shares of EXEL opened at $37.01 on Thursday. The stock has a market capitalization of $10.36 billion, a P/E ratio of 20.91, a PEG 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 firm has a fifty day simple moving average of $35.69 and a two-hundred day simple moving average of $33.12.

Exelixis (NASDAQ:EXEL) last posted its 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%. Sell-side analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

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.