Commerce Bank Sells 38,408 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Commerce Bank cut its stake in Exelixis, Inc. (NASDAQ:EXEL) by 16.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,298 shares of the biotechnology company’s stock after selling 38,408 shares during the quarter. Commerce Bank owned approximately 0.07% of Exelixis worth $4,886,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Hsbc Holdings PLC lifted its position in Exelixis by 45.3% during the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock worth $2,031,000 after acquiring an additional 28,126 shares during the last quarter. Farallon Capital Management LLC increased its position in Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after buying an additional 424,000 shares during the period. Seizert Capital Partners LLC lifted its holdings in shares of Exelixis by 8.0% during the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock worth $12,195,000 after buying an additional 34,875 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Exelixis by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after acquiring an additional 991,494 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Exelixis by 60.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock valued at $1,424,000 after acquiring an additional 20,641 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling

In other news, EVP Patrick J. Haley sold 41,588 shares of Exelixis stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.36, for a total value of $1,428,963.68. Following the sale, the executive vice president now directly owns 288,665 shares of the company’s stock, valued at approximately $9,918,529.40. The trade was a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total value of $659,500.00. Following the completion of the sale, the executive vice president now directly owns 605,325 shares in the company, valued at approximately $15,968,473.50. The trade was a 3.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 289,736 shares of company stock valued at $9,471,510. 2.85% of the stock is owned by insiders.

Exelixis Price Performance

Shares of Exelixis stock opened at $34.83 on Friday. Exelixis, Inc. has a 1 year low of $19.20 and a 1 year high of $36.60. The company has a 50-day moving average of $29.72 and a 200 day moving average of $25.48. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 0.87 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Exelixis’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. On average, equities analysts anticipate that Exelixis, Inc. will post 1.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EXEL. UBS Group assumed coverage on shares of Exelixis in a report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $34.00 price target on shares of Exelixis in a research report on Wednesday, October 30th. BMO Capital Markets lifted their price objective on Exelixis from $29.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial raised their price target on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.44.

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.