MetLife Investment Management LLC Sells 6,051 Shares of Exelixis, Inc. (NASDAQ:EXEL)

MetLife Investment Management LLC reduced its stake in Exelixis, Inc. (NASDAQ:EXEL) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,315 shares of the biotechnology company’s stock after selling 6,051 shares during the quarter. MetLife Investment Management LLC’s holdings in Exelixis were worth $4,108,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXEL. LSV Asset Management lifted its holdings in shares of Exelixis by 107.7% in the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after purchasing an additional 2,989,021 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Exelixis by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after buying an additional 991,494 shares during the last quarter. Farallon Capital Management LLC lifted its stake in Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after acquiring an additional 424,000 shares in the last quarter. AQR Capital Management LLC boosted its position in Exelixis by 12.7% during the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after acquiring an additional 370,199 shares during the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of Exelixis by 92.1% during the 2nd quarter. Retirement Systems of Alabama now owns 731,476 shares of the biotechnology company’s stock worth $16,436,000 after acquiring an additional 350,740 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Down 2.4 %

Exelixis stock opened at $35.59 on Tuesday. Exelixis, Inc. has a twelve month low of $19.20 and a twelve month high of $36.97. The stock has a market cap of $10.16 billion, a P/E ratio of 23.29, a P/E/G ratio of 0.92 and a beta of 0.51. The company’s 50-day moving average price is $30.82 and its two-hundred day moving average price is $26.15.

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

Insider Activity

In related news, EVP Patrick J. Haley sold 41,588 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.36, for a total value of $1,428,963.68. Following the completion of the sale, the executive vice president now directly owns 288,665 shares in the company, valued at approximately $9,918,529.40. The trade was a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $26.38, for a total value of $659,500.00. Following the transaction, the executive vice president now owns 605,325 shares in the company, valued at approximately $15,968,473.50. This trade represents a 3.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 339,736 shares of company stock valued at $11,508,610. 2.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EXEL shares. Morgan Stanley boosted their price objective on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Stephens increased their price objective on shares of Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Piper Sandler lifted their target price on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their price target on Exelixis from $29.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Truist Financial raised their price target on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.44.

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.