Spark Investment Management LLC Has $7.10 Million Holdings in Exelixis, Inc. (EXEL)

Spark Investment Management LLC raised its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 35.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 329,700 shares of the biotechnology company’s stock after buying an additional 86,400 shares during the period. Spark Investment Management LLC owned about 0.11% of Exelixis worth $7,095,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Exelixis by 109.4% during the first quarter. JPMorgan Chase & Co. now owns 5,035,494 shares of the biotechnology company’s stock valued at $111,537,000 after buying an additional 2,630,991 shares during the period. Wells Fargo & Company MN boosted its position in Exelixis by 24.2% during the first quarter. Wells Fargo & Company MN now owns 3,818,088 shares of the biotechnology company’s stock valued at $84,571,000 after buying an additional 743,225 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in Exelixis by 26.6% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 3,562,369 shares of the biotechnology company’s stock valued at $78,906,000 after buying an additional 747,398 shares during the period. Bank of New York Mellon Corp boosted its position in Exelixis by 143.0% during the second quarter. Bank of New York Mellon Corp now owns 3,042,525 shares of the biotechnology company’s stock valued at $65,476,000 after buying an additional 1,790,454 shares during the period. Finally, First Trust Advisors LP boosted its position in Exelixis by 197.8% during the second quarter. First Trust Advisors LP now owns 2,599,525 shares of the biotechnology company’s stock valued at $55,942,000 after buying an additional 1,726,507 shares during the period. Institutional investors and hedge funds own 83.35% of the company’s stock.

In related news, insider Gisela Schwab sold 22,500 shares of the stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $20.80, for a total value of $468,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Morrissey sold 100,000 shares of the stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $21.10, for a total transaction of $2,110,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 813,390 shares of company stock valued at $16,844,917. Insiders own 4.80% of the company’s stock.

EXEL has been the subject of several analyst reports. ValuEngine upgraded shares of Exelixis from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research report on Tuesday, July 31st. Stifel Nicolaus cut their price target on shares of Exelixis from $30.00 to $29.00 and set a “hold” rating for the company in a research report on Thursday, May 3rd. BidaskClub upgraded shares of Exelixis from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 16th. Finally, Cann restated a “buy” rating and set a $40.00 price target on shares of Exelixis in a research report on Thursday, May 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $32.67.

Shares of NASDAQ:EXEL opened at $17.69 on Tuesday. The stock has a market cap of $5.72 billion, a PE ratio of 34.69 and a beta of 2.02. Exelixis, Inc. has a 12 month low of $17.34 and a 12 month high of $32.50.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, August 1st. The biotechnology company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.16 by $0.12. The firm had revenue of $186.10 million during the quarter, compared to the consensus estimate of $157.37 million. Exelixis had a net margin of 48.17% and a return on equity of 65.68%. The company’s quarterly revenue was up 88.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. sell-side analysts predict that Exelixis, Inc. will post 1.03 EPS for the current year.

About Exelixis

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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