Exelixis, Inc. $EXEL Stake Lowered by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in Exelixis, Inc. (NASDAQ:EXEL) by 79.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,841 shares of the biotechnology company’s stock after selling 564,373 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.05% of Exelixis worth $6,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of EXEL. Farallon Capital Management LLC increased its position in Exelixis by 21.6% in the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after purchasing an additional 3,466,000 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Exelixis by 20.7% during the 3rd quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock worth $379,190,000 after purchasing an additional 1,575,280 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Exelixis by 7.1% during the 3rd quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company’s stock valued at $246,170,000 after buying an additional 394,897 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings 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 valued at $231,951,000 after buying an additional 1,580,567 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Exelixis by 11.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock valued at $172,658,000 after buying an additional 419,596 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Trading Down 2.0%

Shares of Exelixis stock opened at $41.53 on Friday. The firm has a fifty day simple moving average of $42.77 and a 200-day simple moving average of $41.96. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.93 and a beta of 0.41. 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, February 10th. The biotechnology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.74 by $0.20. The firm had revenue of $598.66 million for the quarter, compared to the consensus estimate of $609.17 million. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. As a group, research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Analyst Ratings Changes

EXEL has been the topic of several recent research reports. Citigroup lowered shares of Exelixis from a “market outperform” rating to an “underperform” rating in a research report on Monday, January 5th. 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. Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Wells Fargo & Company lifted their price objective on shares of Exelixis from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. Finally, Royal Bank Of Canada decreased their price objective on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.94.

Insider Buying and Selling at Exelixis

In related news, Director Jack L. Wyszomierski sold 99,574 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the completion of the sale, the director owned 279,942 shares in the company, valued at $12,320,247.42. This represents a 26.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Haley sold 67,814 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.52, for a total transaction of $2,951,265.28. Following the transaction, the executive vice president owned 381,908 shares of the company’s stock, valued at approximately $16,620,636.16. The trade was a 15.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 362,849 shares of company stock worth $15,917,463 in the last ninety days. 2.82% of the stock is owned by insiders.

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.