Redwood Investment Management LLC Purchases New Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Redwood Investment Management LLC purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 42,286 shares of the biotechnology company’s stock, valued at approximately $1,408,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Coppell Advisory Solutions LLC acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $25,000. Colonial Trust Co SC increased its holdings in shares of Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 765 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 373 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $32,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Down 1.9%

Shares of NASDAQ EXEL opened at $45.40 on Friday. The company’s fifty day moving average is $37.23 and its 200-day moving average is $35.80. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.13 and a beta of 0.25. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $48.85.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. On average, research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 126,383 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $47.96, for a total value of $6,061,328.68. Following the sale, the executive vice president now directly owns 446,459 shares of the company’s stock, valued at approximately $21,412,173.64. The trade was a 22.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Senner sold 29,314 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the completion of the sale, the chief financial officer now directly owns 779,607 shares in the company, valued at $28,174,996.98. This represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 520,942 shares of company stock valued at $22,930,002. 2.82% of the stock is owned by corporate insiders.

Analyst Ratings Changes

EXEL has been the subject of a number of research reports. Barclays raised their price target on shares of Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. StockNews.com lowered shares of Exelixis from a “strong-buy” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company reaffirmed a “market outperform” rating on shares of Exelixis in a report on Thursday, April 17th. UBS Group reaffirmed an “underperform” rating on shares of Exelixis in a report on Thursday, April 17th. Finally, Truist Financial lifted their target price on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Exelixis has an average rating of “Moderate Buy” and a consensus target price of $38.76.

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.