Covestor Ltd Boosts Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Covestor Ltd increased its position in Exelixis, Inc. (NASDAQ:EXEL) by 13.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,198 shares of the biotechnology company’s stock after buying an additional 863 shares during the quarter. Covestor Ltd’s holdings in Exelixis were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of EXEL. USA Financial Formulas purchased a new position in Exelixis in the 4th quarter worth approximately $32,000. Principal Securities Inc. increased its stake in shares of Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after buying an additional 373 shares during the period. Kestra Investment Management LLC bought a new stake in Exelixis during the 4th quarter valued at $39,000. UMB Bank n.a. boosted its position 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 buying an additional 553 shares during the period. Finally, Crowley Wealth Management Inc. purchased a new position in Exelixis during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 52,636 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the transaction, the executive vice president now owns 303,310 shares of the company’s stock, valued at approximately $11,216,403.80. This trade represents a 14.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack L. Wyszomierski sold 8,768 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $37.80, for a total value of $331,430.40. Following the sale, the director now directly owns 356,605 shares in the company, valued at $13,479,669. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock valued at $5,177,234 over the last 90 days. 2.85% of the stock is owned by corporate insiders.

Exelixis Trading Down 2.5 %

EXEL traded down $0.87 during trading on Thursday, hitting $34.47. 374,463 shares of the company traded hands, compared to its average volume of 2,163,097. The company has a market cap of $9.65 billion, a PE ratio of 19.47, a P/E/G ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $40.02. The stock’s 50-day simple moving average is $36.09 and its two-hundred day simple moving average is $33.83.

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

Wall Street Analysts Forecast Growth

EXEL has been the topic of several research analyst reports. Wells Fargo & Company cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a research note on Monday, February 24th. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Exelixis in a research note on Thursday, March 27th. BMO Capital Markets cut shares of Exelixis from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. Guggenheim reiterated a “buy” rating and set a $42.00 target price on shares of Exelixis in a research note on Wednesday, February 12th. Finally, Barclays boosted their price target on Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

About Exelixis

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.