Lazard Asset Management LLC Cuts Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Lazard Asset Management LLC lowered its stake in shares of Exelixis, Inc. (NASDAQ:EXELGet Rating) by 97.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,220 shares of the biotechnology company’s stock after selling 418,079 shares during the period. Lazard Asset Management LLC’s holdings in Exelixis were worth $233,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Walleye Capital LLC raised its stake in shares of Exelixis by 224.4% in the 2nd quarter. Walleye Capital LLC now owns 116,543 shares of the biotechnology company’s stock valued at $2,426,000 after acquiring an additional 80,618 shares during the period. Quent Capital LLC raised its stake in shares of Exelixis by 4,687.5% in the 2nd quarter. Quent Capital LLC now owns 3,064 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 3,000 shares during the period. Bank of Nova Scotia raised its stake in shares of Exelixis by 2,148.4% in the 2nd quarter. Bank of Nova Scotia now owns 784,267 shares of the biotechnology company’s stock valued at $16,328,000 after acquiring an additional 749,386 shares during the period. Texas Permanent School Fund raised its stake in shares of Exelixis by 3.3% in the 2nd quarter. Texas Permanent School Fund now owns 231,825 shares of the biotechnology company’s stock valued at $4,827,000 after acquiring an additional 7,514 shares during the period. Finally, Donoghue Forlines LLC purchased a new position in shares of Exelixis in the 2nd quarter valued at $440,000. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Insider Activity

In other news, EVP Patrick J. Haley sold 40,000 shares of Exelixis stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $17.94, for a total value of $717,600.00. Following the completion of the transaction, the executive vice president now directly owns 261,591 shares of the company’s stock, valued at approximately $4,692,942.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.90% of the company’s stock.

Exelixis Price Performance

Shares of EXEL stock opened at $16.91 on Monday. Exelixis, Inc. has a 1-year low of $14.87 and a 1-year high of $23.40. The firm has a fifty day moving average of $16.41 and a two-hundred day moving average of $18.58. The firm has a market cap of $5.45 billion, a P/E ratio of 17.80, a P/E/G ratio of 0.82 and a beta of 0.70.

Wall Street Analyst Weigh In

EXEL has been the subject of a number of recent analyst reports. EF Hutton Acquisition Co. I initiated coverage on shares of Exelixis in a report on Tuesday, November 1st. They set a “buy” rating and a $28.00 price target for the company. Cowen lowered their price target on shares of Exelixis from $26.00 to $21.00 in a report on Wednesday, November 2nd. JMP Securities initiated coverage on shares of Exelixis in a report on Tuesday, October 18th. They set an “outperform” rating and a $26.00 price target for the company. Piper Sandler raised their price target on shares of Exelixis from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, July 26th. Finally, Royal Bank of Canada lowered their price target on shares of Exelixis from $31.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, November 2nd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.70.

Exelixis Profile

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Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines 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.

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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