Bellevue Group AG Sells 204,900 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Bellevue Group AG reduced its stake in Exelixis, Inc. (NASDAQ:EXEL) by 9.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,903,200 shares of the biotechnology company’s stock after selling 204,900 shares during the quarter. Bellevue Group AG owned approximately 0.63% of Exelixis worth $45,163,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Exelixis in the fourth quarter worth $73,449,000. LSV Asset Management lifted its position in Exelixis by 1,651.4% during the 1st quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock worth $65,844,000 after acquiring an additional 2,616,278 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Exelixis by 948.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after acquiring an additional 2,220,150 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Exelixis by 148.2% during the first quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock valued at $53,817,000 after acquiring an additional 1,354,062 shares during the period. Finally, abrdn plc acquired a new stake in shares of Exelixis in the fourth quarter valued at about $15,997,000. Institutional investors own 85.27% of the company’s stock.

Insider Transactions at Exelixis

In other news, Director David Edward Johnson bought 225,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $20.76 per share, for a total transaction of $4,671,000.00. Following the completion of the purchase, the director now owns 1,525,730 shares of the company’s stock, valued at approximately $31,674,154.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Exelixis news, Director David Edward Johnson bought 225,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were bought at an average price of $20.76 per share, for a total transaction of $4,671,000.00. Following the completion of the acquisition, the director now owns 1,525,730 shares of the company’s stock, valued at $31,674,154.80. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jack L. Wyszomierski sold 8,287 shares of Exelixis stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $22.00, for a total value of $182,314.00. Following the completion of the transaction, the director now directly owns 349,499 shares of the company’s stock, valued at $7,688,978. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,896 shares of company stock valued at $660,677. Corporate insiders own 2.85% of the company’s stock.

Exelixis Trading Up 1.9 %

EXEL stock traded up $0.43 during trading on Friday, hitting $23.39. The company had a trading volume of 1,693,637 shares, compared to its average volume of 1,242,114. The company has a fifty day moving average price of $21.93 and a two-hundred day moving average price of $22.17. Exelixis, Inc. has a fifty-two week low of $18.64 and a fifty-two week high of $24.34. The company has a market cap of $7.09 billion, a P/E ratio of 36.55, a P/E/G ratio of 0.58 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.16). The firm had revenue of $425.23 million during the quarter, compared to analyst estimates of $461.04 million. Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 EPS. On average, analysts expect that Exelixis, Inc. will post 1.15 earnings per share for the current year.

Analyst Ratings Changes

EXEL has been the subject of several recent analyst reports. William Blair restated an “outperform” rating on shares of Exelixis in a research note on Wednesday, May 1st. Barclays downgraded shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a research note on Thursday, April 11th. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Stephens began coverage on shares of Exelixis in a report on Tuesday, May 14th. They issued an “equal weight” rating and a $23.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Exelixis in a research report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.13.

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.