Sargent Investment Group LLC Sells 35,575 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Sargent Investment Group LLC reduced its position in Exelixis, Inc. (NASDAQ:EXEL) by 12.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 242,895 shares of the biotechnology company’s stock after selling 35,575 shares during the period. Exelixis accounts for about 1.1% of Sargent Investment Group LLC’s portfolio, making the stock its 24th largest position. Sargent Investment Group LLC’s holdings in Exelixis were worth $5,458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Edgestream Partners L.P. lifted its position in Exelixis by 128.6% during the second quarter. Edgestream Partners L.P. now owns 114,785 shares of the biotechnology company’s stock valued at $2,579,000 after acquiring an additional 64,571 shares during the last quarter. Renaissance Technologies LLC grew its stake in Exelixis by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock worth $340,714,000 after buying an additional 61,350 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Exelixis by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after acquiring an additional 349,837 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Exelixis by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 465,048 shares of the biotechnology company’s stock worth $10,450,000 after buying an additional 14,443 shares during the period. Finally, Inspire Advisors LLC purchased a new stake in shares of Exelixis during the second quarter valued at $454,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

EXEL has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $27.00 target price on shares of Exelixis in a research note on Wednesday, August 7th. Truist Financial reaffirmed a “buy” rating and set a $33.00 target price (up previously from $32.00) on shares of Exelixis in a report on Thursday, August 8th. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Oppenheimer reissued an “outperform” rating and set a $29.00 price target on shares of Exelixis in a research report on Tuesday, July 30th. Finally, JMP Securities upped their price objective on shares of Exelixis from $27.00 to $29.00 and gave the company a “market outperform” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus price target of $27.43.

Insider Transactions at Exelixis

In related news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the sale, the executive vice president now owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the transaction, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Maria C. Freire sold 8,250 shares of Exelixis stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the sale, the director now owns 91,007 shares in the company, valued at $2,417,145.92. The disclosure for this sale can be found here. Insiders sold a total of 302,858 shares of company stock valued at $7,980,629 in the last three months. 2.85% of the stock is currently owned by company insiders.

Exelixis Stock Performance

Shares of Exelixis stock opened at $27.47 on Tuesday. The firm has a 50-day simple moving average of $24.83 and a two-hundred day simple moving average of $23.23. Exelixis, Inc. has a fifty-two week low of $18.64 and a fifty-two week high of $27.53. The company has a market cap of $8.33 billion, a P/E ratio of 42.92, a price-to-earnings-growth ratio of 0.58 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The company had revenue of $637.18 million during the quarter, compared to analysts’ expectations of $468.21 million. Equities research analysts forecast that Exelixis, Inc. will post 1.54 EPS for the current year.

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.