Riverwater Partners LLC Has $2.66 Million Stock Holdings in Exelixis, Inc. $EXEL

Riverwater Partners LLC increased its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 21.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,628 shares of the biotechnology company’s stock after purchasing an additional 10,542 shares during the period. Exelixis makes up 1.0% of Riverwater Partners LLC’s investment portfolio, making the stock its 22nd biggest holding. Riverwater Partners LLC’s holdings in Exelixis were worth $2,657,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of EXEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Exelixis by 81.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock worth $1,592,000 after buying an additional 19,407 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Exelixis by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after buying an additional 68,133 shares during the last quarter. Focus Partners Wealth increased its position in Exelixis by 83.4% during the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after buying an additional 17,483 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Exelixis by 134.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after buying an additional 944 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its position in Exelixis by 23.8% during the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock worth $633,000 after buying an additional 2,764 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Price Performance

EXEL stock opened at $53.50 on Friday. Exelixis, Inc. has a 52-week low of $33.76 and a 52-week high of $53.93. The company has a 50-day moving average of $47.80 and a two-hundred day moving average of $44.83. The stock has a market capitalization of $13.45 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. During the same quarter last year, the company earned $0.55 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. Equities analysts expect that Exelixis, Inc. will post 3.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Christopher J. Senner sold 34,901 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $50.00, for a total value of $1,745,050.00. Following the completion of the sale, the chief financial officer owned 952,317 shares in the company, valued at approximately $47,615,850. This trade represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 32,110 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the completion of the sale, the executive vice president owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. The trade was a 8.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 219,170 shares of company stock valued at $10,620,641 in the last quarter. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on EXEL. Barclays increased their target price on shares of Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research report on Tuesday, May 19th. TD Cowen increased their target price on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Truist Financial raised shares of Exelixis to a “strong-buy” rating in a research report on Monday, April 27th. Finally, Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $47.35.

Exelixis Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.