Graham Capital Management L.P. Raises Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Graham Capital Management L.P. boosted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 81.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,821 shares of the biotechnology company’s stock after acquiring an additional 8,883 shares during the quarter. Graham Capital Management L.P.’s holdings in Exelixis were worth $660,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in Exelixis by 134.7% during the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock valued at $476,000 after buying an additional 8,208 shares during the period. Raymond James Financial Inc. purchased a new position in Exelixis during the fourth quarter valued at approximately $17,046,000. Allspring Global Investments Holdings LLC increased its holdings in Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after buying an additional 704,786 shares during the period. Inspire Investing LLC increased its holdings in Exelixis by 25.0% during the fourth quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company’s stock valued at $1,221,000 after buying an additional 7,331 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Exelixis by 4.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 505,289 shares of the biotechnology company’s stock valued at $16,826,000 after buying an additional 22,225 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXEL has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Truist Financial lifted their price target on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Stephens reaffirmed an “equal weight” rating and issued a $29.00 price target on shares of Exelixis in a report on Wednesday, February 12th. Barclays lifted their price target on shares of Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Exelixis in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.12.

Exelixis Price Performance

NASDAQ EXEL opened at $44.65 on Thursday. The company has a market capitalization of $12.30 billion, a PE ratio of 25.23, a P/E/G ratio of 1.13 and a beta of 0.25. The company has a fifty day moving average of $36.92 and a 200 day moving average of $35.56. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $45.29.

Exelixis (NASDAQ:EXEL) last posted its earnings results 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 earnings per share for the current year.

Insider Activity at Exelixis

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

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.