Marietta Investment Partners LLC Reduces Holdings in Exelixis, Inc. $EXEL

Marietta Investment Partners LLC reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 23.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,795 shares of the biotechnology company’s stock after selling 23,624 shares during the quarter. Marietta Investment Partners LLC’s holdings in Exelixis were worth $3,172,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Richardson Financial Services Inc. grew its holdings in shares of Exelixis by 95.1% during the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 292 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Exelixis in the 3rd quarter valued at about $28,000. Luminist Capital LLC grew its stake in Exelixis by 2,740.0% during the 2nd quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after buying an additional 685 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in Exelixis during the 3rd quarter worth approximately $47,000. Finally, Hantz Financial Services Inc. increased its position in Exelixis by 940.4% during the second quarter. Hantz Financial Services Inc. now owns 1,134 shares of the biotechnology company’s stock worth $50,000 after buying an additional 1,025 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Transactions at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 67,814 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.52, for a total transaction of $2,951,265.28. Following the sale, the executive vice president directly owned 381,908 shares in the company, valued at approximately $16,620,636.16. The trade was a 15.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack L. Wyszomierski sold 99,574 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the completion of the transaction, the director owned 279,942 shares of the company’s stock, valued at $12,320,247.42. This represents a 26.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 362,849 shares of company stock valued at $15,917,463. 2.82% of the stock is owned by company insiders.

Exelixis Stock Down 1.0%

Shares of NASDAQ:EXEL opened at $41.28 on Friday. Exelixis, Inc. has a fifty-two week low of $32.38 and a fifty-two week high of $49.62. The firm’s 50-day simple moving average is $43.66 and its 200-day simple moving average is $41.52. The company has a market cap of $10.72 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 0.94 and a beta of 0.41.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The firm had revenue of $598.66 million during the quarter, compared to the consensus estimate of $609.17 million. During the same quarter last year, the firm earned $0.55 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EXEL. Zacks Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research note on Thursday, January 22nd. Wolfe Research initiated coverage on shares of Exelixis in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Bank of America downgraded shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 target price for the company. in a research note on Monday, January 5th. Finally, Wall Street Zen lowered Exelixis from a “strong-buy” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.94.

Exelixis 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.