Shell Asset Management Co. Reduces Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Shell Asset Management Co. lessened its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 3.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,777 shares of the biotechnology company’s stock after selling 785 shares during the quarter. Shell Asset Management Co.’s holdings in Exelixis were worth $517,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Alaska Permanent Fund Corp raised its stake in Exelixis by 1.2% during the 1st quarter. Alaska Permanent Fund Corp now owns 53,239 shares of the biotechnology company’s stock valued at $1,263,000 after acquiring an additional 617 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Exelixis by 232.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 728 shares during the period. Quadrant Capital Group LLC increased its holdings in Exelixis by 10.8% in the fourth quarter. Quadrant Capital Group LLC now owns 7,709 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 750 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in shares of Exelixis by 11.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 7,555 shares of the biotechnology company’s stock valued at $179,000 after acquiring an additional 781 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Exelixis by 0.5% during the 4th quarter. Jennison Associates LLC now owns 164,200 shares of the biotechnology company’s stock worth $3,939,000 after acquiring an additional 815 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity

In related news, Director Jack L. Wyszomierski sold 8,287 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $22.00, for a total value of $182,314.00. Following the transaction, the director now directly owns 349,499 shares of the company’s stock, valued at approximately $7,688,978. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jack L. Wyszomierski sold 8,287 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $22.00, for a total transaction of $182,314.00. Following the completion of the sale, the director now owns 349,499 shares of the company’s stock, valued at approximately $7,688,978. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Edward Johnson purchased 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $20.32 per share, for a total transaction of $4,064,000.00. Following the acquisition, the director now directly owns 1,300,730 shares of the company’s stock, valued at approximately $26,430,833.60. The disclosure for this purchase can be found here. Insiders sold 30,896 shares of company stock valued at $660,677 in the last ninety days. Company insiders own 2.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EXEL shares. TD Cowen lifted their price objective on Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. HC Wainwright restated a “buy” rating and set a $28.00 target price on shares of Exelixis in a report on Friday, May 3rd. Stephens began coverage on shares of Exelixis in a report on Tuesday, May 14th. They issued an “equal weight” rating and a $23.00 price target on the stock. Finally, JMP Securities reiterated a “market outperform” rating and issued a $27.00 price target on shares of Exelixis in a research report on Wednesday, April 10th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.13.

Exelixis Price Performance

NASDAQ:EXEL traded up $0.36 during mid-day trading on Friday, reaching $23.32. The company’s stock had a trading volume of 457,554 shares, compared to its average volume of 2,041,594. Exelixis, Inc. has a twelve month low of $18.64 and a twelve month high of $24.34. The company’s fifty day simple moving average is $21.88 and its two-hundred day simple moving average is $22.17. The stock has a market cap of $7.07 billion, a P/E ratio of 35.88, a P/E/G ratio of 0.55 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.16). Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The company had revenue of $425.23 million during the quarter, compared to analyst estimates of $461.04 million. During the same period in the prior year, the business posted $0.12 earnings per share. Exelixis’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts expect that Exelixis, Inc. will post 1.14 EPS for the current fiscal year.

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.