Schroder Investment Management Group Sells 276,009 Shares of Exelixis, Inc. $EXEL

Schroder Investment Management Group reduced its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 32.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 565,615 shares of the biotechnology company’s stock after selling 276,009 shares during the quarter. Schroder Investment Management Group’s holdings in Exelixis were worth $22,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Richardson Financial Services Inc. grew its stake in Exelixis by 95.1% in the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 292 shares during the period. Root Financial Partners LLC acquired a new position in shares of Exelixis during the third quarter worth approximately $28,000. Luminist Capital LLC raised its position in shares of Exelixis by 2,740.0% during the second quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 685 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of Exelixis in the 3rd quarter worth $47,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Exelixis in the 2nd quarter worth $60,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EXEL. Morgan Stanley boosted their price target on shares of Exelixis from $48.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, February 2nd. Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Stifel Nicolaus lifted their price objective on shares of Exelixis from $43.00 to $44.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. 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 report on Monday, January 5th. Finally, UBS Group set a $41.00 target price on shares of Exelixis in a report on Monday, January 5th. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.94.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Jack L. Wyszomierski sold 99,574 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total value of $4,382,251.74. Following the completion of the sale, the director directly owned 279,942 shares of the company’s stock, valued at approximately $12,320,247.42. This represents a 26.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bob Oliver sold 30,250 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $43.81, for a total transaction of $1,325,252.50. Following the completion of the sale, the director owned 21,120 shares of the company’s stock, valued at approximately $925,267.20. This trade represents a 58.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 362,849 shares of company stock valued at $15,917,463 in the last quarter. 2.82% of the stock is owned by company insiders.

Exelixis Trading Down 1.4%

Shares of NASDAQ:EXEL opened at $41.17 on Friday. The stock’s fifty day simple moving average is $43.36 and its two-hundred day simple moving average is $41.64. Exelixis, Inc. has a 1-year low of $32.38 and a 1-year high of $49.62. The stock has a market cap of $10.69 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41.

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