Geode Capital Management LLC Acquires 28,289 Shares of Exelixis, Inc. $EXEL

Geode Capital Management LLC grew its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 0.4% in the second quarter, HoldingsChannel.com reports. The fund owned 7,445,469 shares of the biotechnology company’s stock after purchasing an additional 28,289 shares during the period. Geode Capital Management LLC’s holdings in Exelixis were worth $328,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Nuveen LLC purchased a new stake in Exelixis in the first quarter valued at approximately $123,310,000. AQR Capital Management LLC grew its stake in Exelixis by 73.8% in the 1st quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company’s stock worth $250,869,000 after buying an additional 2,926,884 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Exelixis by 40.2% in the 1st quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company’s stock worth $205,725,000 after buying an additional 1,596,948 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Exelixis by 233.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,400,270 shares of the biotechnology company’s stock valued at $51,698,000 after buying an additional 980,319 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Exelixis by 935.4% during the 1st quarter. Pacer Advisors Inc. now owns 678,067 shares of the biotechnology company’s stock valued at $25,034,000 after buying an additional 612,577 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 news, EVP Dana Aftab sold 48,383 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total transaction of $2,056,277.50. Following the completion of the sale, the executive vice president directly owned 664,778 shares in the company, valued at approximately $28,253,065. This represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary C. Beckerle sold 24,622 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $41.93, for a total value of $1,032,400.46. Following the completion of the sale, the director directly owned 21,380 shares in the company, valued at $896,463.40. The trade was a 53.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 173,005 shares of company stock valued at $7,443,678 in the last quarter. Company insiders own 2.82% of the company’s stock.

Exelixis Price Performance

Shares of EXEL stock opened at $41.65 on Friday. The business has a 50-day moving average of $39.47 and a 200 day moving average of $40.54. Exelixis, Inc. has a 1-year low of $31.90 and a 1-year high of $49.62. The stock has a market capitalization of $11.17 billion, a PE ratio of 20.02, a P/E/G ratio of 0.79 and a beta of 0.32.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. The business had revenue of $597.76 million for the quarter, compared to analysts’ expectations of $590.04 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. Exelixis has set its FY 2025 guidance at EPS. Analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $45.00 target price on shares of Exelixis in a research report on Tuesday, October 21st. Barclays upped their price objective on Exelixis from $40.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Citigroup reiterated a “market outperform” rating on shares of Exelixis in a research report on Tuesday, October 21st. Wells Fargo & Company dropped their target price on Exelixis from $36.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.45.

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.