Bridgeway Capital Management LLC Acquires New Stake in Exelixis, Inc. (NASDAQ:EXEL)

Bridgeway Capital Management LLC purchased a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 68,000 shares of the biotechnology company's stock, valued at approximately $2,264,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXEL. Captrust Financial Advisors lifted its stake in Exelixis by 56.5% in the 4th quarter. Captrust Financial Advisors now owns 55,457 shares of the biotechnology company's stock valued at $1,847,000 after purchasing an additional 20,027 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Exelixis by 1.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company's stock worth $573,000 after buying an additional 317 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Exelixis by 7.6% in the 4th quarter. Bank of America Corp DE now owns 1,214,689 shares of the biotechnology company's stock valued at $40,449,000 after acquiring an additional 86,307 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Exelixis by 226.9% during the 4th quarter. BNP Paribas Financial Markets now owns 430,457 shares of the biotechnology company's stock valued at $14,334,000 after acquiring an additional 298,798 shares in the last quarter. Finally, AXA S.A. increased its holdings in Exelixis by 578.3% in the 4th quarter. AXA S.A. now owns 89,130 shares of the biotechnology company's stock worth $2,968,000 after purchasing an additional 75,989 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Trading Down 0.1%

Shares of NASDAQ:EXEL traded down $0.03 during trading on Tuesday, reaching $36.95. The company had a trading volume of 3,110,971 shares, compared to its average volume of 2,178,820. The company has a fifty day moving average of $36.83 and a two-hundred day moving average of $35.49. The stock has a market capitalization of $10.18 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 1.13 and a beta of 0.25. Exelixis, Inc. has a 12 month low of $20.14 and a 12 month high of $40.26.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its earnings results on Tuesday, May 13th. The biotechnology company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.12. Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, equities research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the transaction, the executive vice president now directly owns 303,310 shares of the company's stock, valued at $11,216,403.80. This trade represents a 14.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Senner sold 29,314 shares of Exelixis stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.14, for a total value of $1,059,407.96. Following the transaction, the chief financial officer now owns 779,607 shares of the company's stock, valued at $28,174,996.98. The trade was a 3.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,851 shares of company stock worth $5,236,046 over the last quarter. Corporate insiders own 2.82% of the company's stock.

Wall Street Analysts Forecast Growth

EXEL has been the topic of several recent research reports. Royal Bank of Canada lifted their target price on shares of Exelixis from $38.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, March 13th. Truist Financial boosted their price objective on shares of Exelixis from $42.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Piper Sandler raised their target price on Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Morgan Stanley upgraded Exelixis from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $30.00 to $40.00 in a research report on Monday, January 27th. Finally, Oppenheimer downgraded shares of Exelixis from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.59.

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.