Jacobs Levy Equity Management Inc. Sells 576,199 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Jacobs Levy Equity Management Inc. lessened its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 27.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,506,084 shares of the biotechnology company’s stock after selling 576,199 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.53% of Exelixis worth $50,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. increased its stake in shares of Exelixis by 308.1% in the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company’s stock valued at $132,376,000 after buying an additional 3,001,204 shares during the period. Norges Bank acquired a new position in shares of Exelixis in the fourth quarter valued at approximately $94,867,000. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Exelixis by 330.4% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company’s stock valued at $82,730,000 after buying an additional 1,907,167 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Exelixis by 104.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company’s stock valued at $105,208,000 after buying an additional 1,613,482 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Exelixis by 25.7% in the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company’s stock valued at $132,101,000 after buying an additional 810,857 shares during the period. Institutional investors own 85.27% of the company’s stock.

Insider Activity at Exelixis

In other news, EVP Dana Aftab sold 1,508 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $39.00, for a total transaction of $58,812.00. Following the sale, the executive vice president now directly owns 693,181 shares in the company, valued at $27,034,059. This represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now owns 341,028 shares in the company, valued at approximately $13,231,886.40. This represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,851 shares of company stock worth $5,236,046. Company insiders own 2.82% of the company’s stock.

Exelixis Price Performance

NASDAQ EXEL opened at $36.17 on Monday. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.13 and a beta of 0.25. Exelixis, Inc. has a one year low of $20.14 and a one year high of $40.26. The business’s fifty day moving average is $36.86 and its 200-day moving average is $35.42.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. Research analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $30.00 to $40.00 in a research note on Monday, January 27th. Truist Financial upped their target price on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 27th. HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of Exelixis in a report on Thursday, March 27th. Barclays upped their target price on Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Finally, Guggenheim reiterated a “buy” rating and issued a $42.00 target price on shares of Exelixis in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

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.