Mirae Asset Global Investments Co. Ltd. Sells 801 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,516 shares of the biotechnology company’s stock after selling 801 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Exelixis were worth $322,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Exelixis by 18.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 290 shares during the last quarter. Covestor Ltd increased its position in Exelixis by 5.7% in the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after buying an additional 341 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Exelixis by 16.1% during the fourth quarter. Fifth Third Bancorp now owns 3,231 shares of the biotechnology company’s stock worth $108,000 after buying an additional 449 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 553 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of Exelixis by 3.2% in the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock worth $515,000 after acquiring an additional 609 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the transaction, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,588 shares of company stock worth $3,981,864 over the last ninety days. 2.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Exelixis in a research note on Thursday. Barclays upped their price objective on shares of Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday. Brookline Capital Management started coverage on shares of Exelixis in a research note on Monday, December 23rd. They issued a “buy” rating for the company. StockNews.com lowered Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Guggenheim reiterated a “buy” rating and issued a $42.00 price objective on shares of Exelixis in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.24.

Exelixis Stock Performance

NASDAQ EXEL opened at $34.49 on Friday. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $37.59. The stock has a market capitalization of $9.85 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. The stock has a fifty day moving average of $34.21 and a 200-day moving average of $30.75.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. Equities research analysts forecast that Exelixis, Inc. will post 1.74 earnings per share for the current fiscal year.

Exelixis Company 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.