Thrivent Financial for Lutherans Reduces Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Thrivent Financial for Lutherans decreased its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,684 shares of the biotechnology company’s stock after selling 3,367 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Exelixis were worth $1,964,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Seizert Capital Partners LLC lifted its stake in Exelixis by 8.0% in the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock worth $12,195,000 after acquiring an additional 34,875 shares during the period. Natixis Advisors LLC raised its holdings in Exelixis by 26.2% in the third quarter. Natixis Advisors LLC now owns 29,113 shares of the biotechnology company’s stock worth $755,000 after purchasing an additional 6,051 shares in the last quarter. CIBC Asset Management Inc bought a new position in Exelixis in the third quarter worth $227,000. Buck Wealth Strategies LLC bought a new position in Exelixis in the third quarter worth $221,000. Finally, Victory Capital Management Inc. raised its holdings in Exelixis by 16.6% in the third quarter. Victory Capital Management Inc. now owns 136,178 shares of the biotechnology company’s stock worth $3,534,000 after purchasing an additional 19,372 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.36, for a total value of $1,428,963.68. Following the completion of the transaction, the executive vice president now directly owns 288,665 shares in the company, valued at $9,918,529.40. This represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the sale, the executive vice president now directly owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. This trade represents a 3.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 279,736 shares of company stock valued at $9,308,410. Company insiders own 2.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EXEL. Piper Sandler increased their price objective on Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price objective on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. BMO Capital Markets increased their price objective on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Finally, Stifel Nicolaus raised their price target on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Performance

EXEL stock opened at $35.93 on Friday. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.73. The business’s 50-day moving average is $30.44 and its two-hundred day moving average is $25.90. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 0.92 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The business had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. Equities analysts predict that Exelixis, Inc. will post 1.69 earnings per share for the current 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.