Smith Asset Management Group LP cut its stake in shares of Exelixis Inc. (NASDAQ:EXEL) by 43.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,410 shares of the biotechnology company’s stock after selling 23,050 shares during the period. Smith Asset Management Group LP’s holdings in Exelixis were worth $230,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Aperio Group LLC raised its position in Exelixis by 4.1% in the first quarter. Aperio Group LLC now owns 87,515 shares of the biotechnology company’s stock valued at $350,000 after buying an additional 3,410 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in Exelixis during the first quarter worth approximately $406,000. BlackRock Group LTD raised its stake in Exelixis by 12.4% in the first quarter. BlackRock Group LTD now owns 242,999 shares of the biotechnology company’s stock worth $972,000 after buying an additional 26,863 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Exelixis by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,329,318 shares of the biotechnology company’s stock worth $21,317,000 after buying an additional 127,342 shares in the last quarter. Finally, ING Groep NV acquired a new stake in Exelixis during the first quarter worth approximately $359,000. 81.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Exelixis Inc. (NASDAQ:EXEL) traded down 13.76% during midday trading on Wednesday, reaching $13.35. The company had a trading volume of 28,075,108 shares. The stock’s 50 day moving average is $12.19 and its 200-day moving average is $7.82. The stock’s market capitalization is $3.07 billion. Exelixis Inc. has a 12-month low of $3.55 and a 12-month high of $15.58.
Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.11. The firm had revenue of $36.25 million for the quarter, compared to analyst estimates of $16.76 million. During the same period last year, the company posted ($0.22) earnings per share. The firm’s quarterly revenue was up 353.7% compared to the same quarter last year. On average, equities research analysts predict that Exelixis Inc. will post ($0.62) earnings per share for the current fiscal year.
A number of research firms have recently commented on EXEL. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research report on Thursday, September 15th. Cowen and Company reaffirmed an “outperform” rating on shares of Exelixis in a research report on Tuesday, June 7th. Leerink Swann reaffirmed an “outperform” rating and set a $15.00 price target on shares of Exelixis in a research report on Wednesday. Stifel Nicolaus raised their price target on Exelixis from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 15th. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $8.00 price target (up previously from $5.00) on shares of Exelixis in a research report on Thursday, August 4th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $12.35.
In related news, insider Gisela Schwab sold 42,338 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $11.00, for a total transaction of $465,718.00. Following the transaction, the insider now directly owns 174,354 shares of the company’s stock, valued at approximately $1,917,894. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 5.90% of the company’s stock.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ.
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