Exelixis, Inc. $EXEL Shares Sold by Nan Fung Trinity HK Ltd.

Nan Fung Trinity HK Ltd. lowered its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 46.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,200 shares of the biotechnology company’s stock after selling 30,000 shares during the period. Nan Fung Trinity HK Ltd.’s holdings in Exelixis were worth $1,412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Exelixis during the second quarter valued at about $122,099,000. Qube Research & Technologies Ltd increased its stake in Exelixis by 120.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock valued at $134,306,000 after buying an additional 1,665,110 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Exelixis by 42.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock worth $231,951,000 after buying an additional 1,580,567 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Exelixis by 776.8% during the 2nd quarter. Prudential Financial Inc. now owns 1,468,865 shares of the biotechnology company’s stock worth $64,740,000 after buying an additional 1,301,330 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Exelixis by 38.2% in the 2nd quarter. Bank of America Corp DE now owns 2,638,666 shares of the biotechnology company’s stock worth $116,299,000 after acquiring an additional 728,956 shares during the period. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of research analyst reports. HC Wainwright raised their price objective on shares of Exelixis from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America downgraded Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price objective on the stock. in a research note on Monday, January 5th. TD Cowen restated a “buy” rating on shares of Exelixis in a report on Wednesday, November 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $48.00 target price (up from $45.00) on shares of Exelixis in a report on Thursday, January 8th. Finally, UBS Group set a $41.00 price target on shares of Exelixis in a research report on Monday, January 5th. Eleven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.95.

Insider Activity

In other news, Director Mary C. Beckerle sold 24,622 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $41.93, for a total value of $1,032,400.46. Following the completion of the sale, the director owned 21,380 shares of the company’s stock, valued at $896,463.40. This trade represents a 53.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Patrick J. Haley sold 34,187 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $41.88, for a total value of $1,431,751.56. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 245,235 shares of company stock worth $10,490,600. Company insiders own 2.82% of the company’s stock.

Exelixis Trading Down 2.2%

Shares of EXEL opened at $41.36 on Friday. The business’s 50-day moving average price is $43.76 and its 200 day moving average price is $41.06. The stock has a market capitalization of $11.09 billion, a P/E ratio of 17.45, a P/E/G ratio of 0.76 and a beta of 0.40. Exelixis, Inc. has a 1-year low of $32.38 and a 1-year high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.68 by $0.10. The company had revenue of $597.76 million during the quarter, compared to analysts’ expectations of $590.04 million. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company posted $0.47 earnings per share. On average, research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current 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.