Bank of New York Mellon Corp Sells 57,995 Shares of Exelixis, Inc. $EXEL

Bank of New York Mellon Corp lowered its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,986,035 shares of the biotechnology company’s stock after selling 57,995 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.78% of Exelixis worth $85,181,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its stake in Exelixis by 62.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 187,154 shares of the biotechnology company’s stock worth $8,224,000 after purchasing an additional 71,987 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of Exelixis by 1.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company’s stock worth $111,303,000 after purchasing an additional 28,265 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Exelixis by 692.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 140,446 shares of the biotechnology company’s stock worth $6,156,000 after buying an additional 122,720 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Exelixis by 72.1% in the fourth quarter. SG Americas Securities LLC now owns 36,288 shares of the biotechnology company’s stock worth $1,591,000 after buying an additional 15,203 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Exelixis by 18.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,383,820 shares of the biotechnology company’s stock valued at $60,307,000 after purchasing an additional 216,048 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Maria C. Freire sold 20,634 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $46.00, for a total transaction of $949,164.00. Following the transaction, the director directly owned 100,819 shares of the company’s stock, valued at approximately $4,637,674. This represents a 16.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 32,110 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total value of $1,599,399.10. Following the sale, the executive vice president owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. This represents a 8.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 219,170 shares of company stock valued at $10,620,641 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Exelixis Stock Performance

NASDAQ EXEL opened at $56.12 on Wednesday. Exelixis, Inc. has a one year low of $33.76 and a one year high of $57.57. The company has a market capitalization of $14.11 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 1.60 and a beta of 0.42. The company’s 50-day simple moving average is $52.89 and its two-hundred day simple moving average is $46.97.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) 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 the consensus estimate of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. Equities analysts expect that Exelixis, Inc. will post 3.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EXEL shares. Stifel Nicolaus raised their target price on shares of Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. UBS Group reaffirmed a “buy” rating on shares of Exelixis in a research note on Thursday, July 2nd. Truist Financial boosted their price target on Exelixis from $54.00 to $56.00 and gave the company a “hold” rating in a report on Tuesday, July 7th. Weiss Ratings raised Exelixis from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, July 8th. Finally, Barclays raised their price objective on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.80.

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.