Assenagon Asset Management S.A. Decreases Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Assenagon Asset Management S.A. decreased its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 80.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 221,913 shares of the biotechnology company’s stock after selling 889,445 shares during the period. Assenagon Asset Management S.A. owned approximately 0.08% of Exelixis worth $7,390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EXEL. V Square Quantitative Management LLC purchased a new stake in Exelixis during the third quarter valued at about $30,000. Brooklyn Investment Group bought a new stake in shares of Exelixis in the 3rd quarter valued at about $42,000. Capital Performance Advisors LLP purchased a new stake in Exelixis during the 3rd quarter valued at about $61,000. Essex Investment Management Co. LLC bought a new position in Exelixis during the 3rd quarter worth approximately $74,000. Finally, GAMMA Investing LLC increased its stake in Exelixis by 50.0% in the 3rd quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 1,004 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 several recent analyst reports. Brookline Capital Management initiated coverage on shares of Exelixis in a report on Monday, December 23rd. They issued a “buy” rating on the stock. TD Cowen raised their price target on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Oppenheimer upped their price objective on shares of Exelixis from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley increased their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Finally, Piper Sandler boosted their price target on Exelixis from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Exelixis Stock Down 1.0 %

Shares of EXEL opened at $36.20 on Monday. The stock has a market cap of $10.34 billion, a P/E ratio of 23.21, a P/E/G ratio of 0.87 and a beta of 0.53. The business’s 50 day moving average price is $34.97 and its 200-day moving average price is $29.39. Exelixis, Inc. has a 52 week low of $20.01 and a 52 week high of $37.59.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. On average, equities analysts anticipate that Exelixis, Inc. will post 1.7 EPS for the current year.

Insider Buying and Selling

In other news, Director George Poste sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now directly owns 169,020 shares of the company’s stock, valued at $5,746,680. The trade was a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 314,736 shares of company stock worth $10,849,110 in the last three months. Insiders own 2.85% of the company’s stock.

Exelixis Profile

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.