Fifth Third Bancorp Grows Position in Exelixis, Inc. $EXEL

Fifth Third Bancorp boosted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 1,938.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,836 shares of the biotechnology company’s stock after acquiring an additional 66,410 shares during the period. Fifth Third Bancorp’s holdings in Exelixis were worth $2,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in EXEL. Motiv8 Investments LLC purchased a new stake in Exelixis during the fourth quarter worth $26,000. Acumen Wealth Advisors LLC purchased a new position in shares of Exelixis in the 4th quarter valued at $29,000. Activest Wealth Management bought a new position in shares of Exelixis in the 4th quarter worth $32,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Exelixis by 1,380.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 773 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Exelixis during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

EXEL has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $56.00 target price on shares of Exelixis in a report on Thursday, July 2nd. Wells Fargo & Company increased their target price on shares of Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Exelixis from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, July 8th. Truist Financial lifted their price target on shares of Exelixis from $54.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.80.

Insider Transactions at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 34,901 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the completion of the transaction, the chief financial officer directly owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. This trade represents a 3.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dana Aftab sold 43,451 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the completion of the sale, the executive vice president owned 594,741 shares in the company, valued at $29,945,209.35. The trade was a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 219,170 shares of company stock valued at $10,620,641 over the last quarter. Company insiders own 2.60% of the company’s stock.

Exelixis Trading Down 0.7%

Shares of Exelixis stock opened at $55.53 on Tuesday. The firm’s 50 day simple moving average is $52.76 and its two-hundred day simple moving average is $46.88. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 1.61 and a beta of 0.42. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. The firm had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 earnings per share. On average, sell-side analysts predict that Exelixis, Inc. will post 3.16 EPS for the current fiscal year.

About Exelixis

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.