EULAV Asset Management Sells 20,000 Shares of Exelixis, Inc. (NASDAQ:EXEL)

EULAV Asset Management lowered its position in Exelixis, Inc. (NASDAQ:EXEL) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 480,000 shares of the biotechnology company’s stock after selling 20,000 shares during the period. EULAV Asset Management’s holdings in Exelixis were worth $15,984,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Exelixis in the 3rd quarter worth $30,000. USA Financial Formulas bought a new position in shares of Exelixis in the fourth quarter valued at $32,000. Brooklyn Investment Group acquired a new position in shares of Exelixis during the third quarter valued at about $42,000. UMB Bank n.a. increased its position in shares of Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 553 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Exelixis in the 3rd quarter worth about $61,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Price Performance

NASDAQ:EXEL opened at $33.48 on Friday. The company has a market capitalization of $9.56 billion, a P/E ratio of 21.46, a P/E/G ratio of 0.72 and a beta of 0.53. The business has a fifty day simple moving average of $34.39 and a two-hundred day simple moving average of $30.45. Exelixis, Inc. has a 1 year low of $20.01 and a 1 year high of $37.59.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EXEL shares. UBS Group lifted their price target on Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Piper Sandler upped their price target on Exelixis from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. JMP Securities restated a “market outperform” rating and set a $41.00 price objective on shares of Exelixis in a research note on Thursday, January 23rd. Morgan Stanley upgraded shares of Exelixis from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $30.00 to $40.00 in a research note on Monday, January 27th. Finally, Bank of America lowered shares of Exelixis from a “buy” rating to a “neutral” rating and raised their price target for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.06.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the transaction, the executive vice president now directly owns 278,665 shares in the company, valued at approximately $9,828,514.55. The trade was a 3.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now directly owns 486,059 shares in the company, valued at $17,823,783.53. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,588 shares of company stock valued at $3,981,864. 2.85% of the stock is owned by insiders.

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.