Exelixis, Inc. (NASDAQ:EXEL) Shares Bought by Seven Eight Capital LP

Seven Eight Capital LP grew its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 234.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,661 shares of the biotechnology company’s stock after purchasing an additional 53,024 shares during the period. Seven Eight Capital LP’s holdings in Exelixis were worth $1,795,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EXEL. Covestor Ltd boosted its stake in shares of Exelixis by 39.4% during the 1st quarter. Covestor Ltd now owns 7,218 shares of the biotechnology company’s stock worth $171,000 after acquiring an additional 2,040 shares in the last quarter. Capital Management Corp VA lifted its holdings in shares of Exelixis by 17.4% during the first quarter. Capital Management Corp VA now owns 459,780 shares of the biotechnology company’s stock valued at $10,911,000 after purchasing an additional 68,185 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Exelixis by 155.8% in the 1st quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company’s stock valued at $2,374,000 after purchasing an additional 60,925 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Exelixis in the 1st quarter worth about $1,216,000. Finally, Jupiter Asset Management Ltd. raised its holdings in Exelixis by 148.2% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock worth $53,817,000 after buying an additional 1,354,062 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

Shares of Exelixis stock traded down $0.14 during trading on Tuesday, reaching $22.46. The company’s stock had a trading volume of 1,044,194 shares, compared to its average volume of 2,061,453. The business’s fifty day moving average price is $21.83 and its 200-day moving average price is $22.17. Exelixis, Inc. has a one year low of $18.64 and a one year high of $24.34. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 0.56 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 for the quarter, missing the consensus estimate of $0.28 by ($0.16). Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The company had revenue of $425.23 million during the quarter, compared to the consensus estimate of $461.04 million. During the same quarter in the previous year, the business posted $0.12 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that Exelixis, Inc. will post 1.14 EPS for the current year.

Insider Activity

In other news, Director David Edward Johnson bought 225,000 shares of Exelixis stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $20.76 per share, with a total value of $4,671,000.00. Following the completion of the transaction, the director now directly owns 1,525,730 shares in the company, valued at $31,674,154.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Exelixis news, Director David Edward Johnson purchased 225,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average price of $20.76 per share, with a total value of $4,671,000.00. Following the completion of the transaction, the director now directly owns 1,525,730 shares of the company’s stock, valued at approximately $31,674,154.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jack L. Wyszomierski sold 10,923 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $21.37, for a total transaction of $233,424.51. Following the transaction, the director now owns 338,948 shares of the company’s stock, valued at approximately $7,243,318.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,896 shares of company stock worth $660,677. Company insiders own 2.85% of the company’s stock.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Barclays downgraded shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research note on Thursday, April 11th. JMP Securities reiterated a “market outperform” rating and set a $27.00 price target on shares of Exelixis in a report on Wednesday, April 10th. TD Cowen upped their price target on Exelixis from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Stephens started coverage on Exelixis in a research report on Tuesday, May 14th. They set an “equal weight” rating and a $23.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and an average target price of $26.13.

About Exelixis

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.