Price T Rowe Associates Inc. MD Sells 311,435 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Price T Rowe Associates Inc. MD cut its stake in Exelixis, Inc. (NASDAQ:EXEL) by 8.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,338,238 shares of the biotechnology company’s stock after selling 311,435 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Exelixis were worth $79,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EXEL. Norges Bank purchased a new position in shares of Exelixis during the fourth quarter valued at about $73,449,000. LSV Asset Management grew its holdings in shares of Exelixis by 1,651.4% during the 1st quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock worth $65,844,000 after acquiring an additional 2,616,278 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Exelixis by 948.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after acquiring an additional 2,220,150 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Exelixis by 148.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock worth $53,817,000 after acquiring an additional 1,354,062 shares in the last quarter. Finally, abrdn plc purchased a new position in shares of Exelixis in the 4th quarter valued at approximately $15,997,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Exelixis news, Director Jack L. Wyszomierski sold 8,287 shares of the stock in a transaction dated 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 owns 349,499 shares of the company’s stock, valued at $7,688,978. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jack L. Wyszomierski sold 10,923 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $21.37, for a total transaction of $233,424.51. Following the completion of the sale, the director now owns 338,948 shares of the company’s stock, valued at approximately $7,243,318.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jack L. Wyszomierski sold 8,287 shares of the firm’s 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 completion of the transaction, the director now directly owns 349,499 shares in the company, valued at $7,688,978. The disclosure for this sale can be found here. Insiders sold 30,896 shares of company stock valued at $660,677 over the last 90 days. Company insiders own 2.85% of the company’s stock.

Exelixis Stock Down 1.2 %

EXEL opened at $23.11 on Tuesday. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 0.58 and a beta of 0.54. The firm has a 50 day moving average price of $21.98 and a 200-day moving average price of $22.17. Exelixis, Inc. has a twelve month low of $18.64 and a twelve month high of $24.34.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The company had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. Exelixis had a net margin of 11.10% and a return on equity of 8.85%. Exelixis’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share. As a group, analysts expect that Exelixis, Inc. will post 1.15 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EXEL shares. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Exelixis in a report on Friday, May 3rd. 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 report on Thursday, April 11th. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. TD Cowen boosted their price objective on shares of Exelixis from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research note on Wednesday, May 1st. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.13.

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.