Geode Capital Management LLC Has $134.01 Million Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Geode Capital Management LLC cut its stake in Exelixis, Inc. (NASDAQ:EXEL) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,162,924 shares of the biotechnology company’s stock after selling 3,280 shares during the period. Geode Capital Management LLC’s holdings in Exelixis were worth $134,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Exelixis during the 3rd quarter worth approximately $30,000. Brooklyn Investment Group bought a new stake in Exelixis in the 3rd quarter valued at $42,000. Capital Performance Advisors LLP bought a new position in shares of Exelixis during the 3rd quarter worth about $61,000. Essex Investment Management Co. LLC bought a new position in Exelixis during the third quarter worth about $74,000. Finally, GAMMA Investing LLC raised its stake in Exelixis by 50.0% during the third quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 1,004 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. Guggenheim lifted their target price on shares of Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler increased their target price on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price target on shares of Exelixis in a research note on Wednesday, September 18th. Finally, JMP Securities reissued a “market outperform” rating and set a $29.00 price target on shares of Exelixis in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Exelixis has an average rating of “Moderate Buy” and an average target price of $31.47.

Exelixis Trading Up 3.0 %

Shares of NASDAQ:EXEL opened at $36.07 on Tuesday. The firm has a 50 day moving average of $32.85 and a 200-day moving average of $27.29. Exelixis, Inc. has a 12 month low of $19.20 and a 12 month high of $36.97. The stock has a market capitalization of $10.30 billion, a PE ratio of 23.12, a PEG ratio of 0.89 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same period last year, the company posted $0.10 EPS. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, research analysts predict that Exelixis, Inc. will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares in the company, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 339,736 shares of company stock worth $11,508,610 in the last ninety days. Company insiders own 2.85% of the company’s stock.

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.