Edgestream Partners L.P. Has $2.58 Million Position in Exelixis, Inc. (NASDAQ:EXEL)

Edgestream Partners L.P. raised its position in Exelixis, Inc. (NASDAQ:EXEL) by 128.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,785 shares of the biotechnology company’s stock after purchasing an additional 64,571 shares during the quarter. Edgestream Partners L.P.’s holdings in Exelixis were worth $2,579,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EXEL. Renaissance Technologies LLC raised its holdings in Exelixis by 0.4% in the 2nd quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock valued at $340,714,000 after buying an additional 61,350 shares during the last quarter. LSV Asset Management increased its position in Exelixis by 107.7% in the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after acquiring an additional 2,989,021 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Exelixis by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after acquiring an additional 349,837 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Exelixis by 18.5% during the fourth quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock worth $75,635,000 after purchasing an additional 492,613 shares during the period. Finally, Norges Bank bought a new stake in shares of Exelixis in the fourth quarter worth $73,449,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Exelixis

In related news, Director Maria C. Freire sold 8,250 shares of Exelixis stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total transaction of $219,120.00. Following the transaction, the director now owns 91,007 shares of the company’s stock, valued at $2,417,145.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Dana Aftab sold 95,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the sale, the executive vice president now owns 520,990 shares in the company, valued at $13,024,750. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Maria C. Freire sold 8,250 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total transaction of $219,120.00. Following the transaction, the director now owns 91,007 shares in the company, valued at $2,417,145.92. The disclosure for this sale can be found here. Insiders sold a total of 302,858 shares of company stock valued at $7,980,629 over the last ninety days. 2.85% of the stock is currently owned by insiders.

Exelixis Trading Down 2.8 %

EXEL opened at $26.82 on Thursday. Exelixis, Inc. has a 1-year low of $18.64 and a 1-year high of $27.83. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 0.58 and a beta of 0.54. The company’s fifty day moving average price is $24.94 and its two-hundred day moving average price is $23.26.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The company had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. As a group, equities analysts forecast that Exelixis, Inc. will post 1.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on EXEL. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday. Truist Financial reiterated a “buy” rating and issued a $33.00 target price (up from $32.00) on shares of Exelixis in a report on Thursday, August 8th. JMP Securities lifted their price objective on Exelixis from $27.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $29.00 target price on shares of Exelixis in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

About Exelixis

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