Sivia Capital Partners LLC Raises Position in Exelixis, Inc. $EXEL

Sivia Capital Partners LLC raised its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 95.7% during the fourth quarter, HoldingsChannel reports. The firm owned 27,811 shares of the biotechnology company’s stock after buying an additional 13,598 shares during the quarter. Sivia Capital Partners LLC’s holdings in Exelixis were worth $1,219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC raised its position in Exelixis by 500.0% during the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Activest Wealth Management purchased a new stake in Exelixis during the fourth quarter valued at approximately $32,000. Northwestern Mutual Wealth Management Co. raised its position in Exelixis by 1,380.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 773 shares during the period. V Square Quantitative Management LLC purchased a new stake in Exelixis during the fourth quarter valued at approximately $44,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Exelixis during the third quarter valued at approximately $47,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director George Poste sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $45.71, for a total value of $2,742,600.00. Following the transaction, the director owned 118,832 shares of the company’s stock, valued at $5,431,810.72. This represents a 33.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Haley sold 32,110 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total value of $1,599,399.10. Following the completion of the transaction, the executive vice president directly owned 357,638 shares in the company, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 219,170 shares of company stock valued at $10,620,641 over the last 90 days. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their price objective on Exelixis from $49.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada cut their target price on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Truist Financial raised Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Barclays upped their target price on Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Exelixis has a consensus rating of “Hold” and an average price target of $47.35.

Exelixis Stock Performance

EXEL opened at $51.60 on Thursday. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 1.02 and a beta of 0.41. The stock’s 50 day moving average price is $46.54 and its 200-day moving average price is $44.39. Exelixis, Inc. has a one year low of $33.76 and a one year high of $52.96.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, analysts predict that Exelixis, Inc. will post 3.18 earnings per share for the current fiscal year.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.