SG Americas Securities LLC Cuts Position in Exelixis, Inc. (NASDAQ:EXEL)

SG Americas Securities LLC trimmed its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 39.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,451 shares of the biotechnology company’s stock after selling 7,550 shares during the period. SG Americas Securities LLC’s holdings in Exelixis were worth $381,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Exelixis in the third quarter valued at approximately $30,000. USA Financial Formulas acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $32,000. Brooklyn Investment Group acquired a new stake in shares of Exelixis in the third quarter valued at approximately $42,000. UMB Bank n.a. boosted its holdings 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, Capital Performance Advisors LLP acquired a new stake in shares of Exelixis in the third quarter valued at approximately $61,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Down 0.8 %

EXEL opened at $32.88 on Tuesday. The stock’s 50 day moving average price is $34.61 and its two-hundred day moving average price is $30.26. Exelixis, Inc. has a 12-month low of $20.01 and a 12-month high of $37.59. The firm has a market capitalization of $9.39 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53.

Insider Activity at Exelixis

In other news, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the sale, the executive vice president now directly owns 278,665 shares in the company, valued at $9,828,514.55. The trade was a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. This trade 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 valued at $3,981,864 in the last three months. Corporate insiders own 2.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BMO Capital Markets downgraded Exelixis from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $36.00 to $40.00 in a report on Friday, December 20th. Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $30.00 to $40.00 in a report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a report on Wednesday, October 30th. Piper Sandler increased their price objective on Exelixis from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and upped their price target for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.06.

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.