Algert Global LLC Sells 96,554 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Algert Global LLC lessened its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 35.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 179,486 shares of the biotechnology company's stock after selling 96,554 shares during the quarter. Algert Global LLC owned approximately 0.06% of Exelixis worth $5,977,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Tidal Investments LLC grew its stake in shares of Exelixis by 2.3% during the third quarter. Tidal Investments LLC now owns 36,366 shares of the biotechnology company's stock valued at $944,000 after buying an additional 823 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Exelixis by 37.2% during the fourth quarter. GAMMA Investing LLC now owns 4,129 shares of the biotechnology company's stock valued at $137,000 after buying an additional 1,119 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Exelixis in the fourth quarter worth about $271,000. Nordea Investment Management AB lifted its stake in Exelixis by 5.1% during the 4th quarter. Nordea Investment Management AB now owns 233,348 shares of the biotechnology company's stock valued at $7,878,000 after acquiring an additional 11,331 shares during the period. Finally, CWA Asset Management Group LLC raised its stake in shares of Exelixis by 22.4% during the 4th quarter. CWA Asset Management Group LLC now owns 27,201 shares of the biotechnology company's stock valued at $906,000 after buying an additional 4,979 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EXEL. HC Wainwright restated a "buy" rating and set a $40.00 price objective on shares of Exelixis in a research report on Thursday, March 27th. Royal Bank of Canada increased their target price on shares of Exelixis from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday, March 13th. Piper Sandler raised their price objective on shares of Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Wells Fargo & Company reissued a "market outperform" rating on shares of Exelixis in a report on Thursday, April 17th. Finally, Guggenheim reaffirmed a "buy" rating and set a $42.00 price target on shares of Exelixis in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.59.

Insider Buying and Selling at Exelixis

In other news, Director Mary C. Beckerle sold 12,210 shares of Exelixis stock in a transaction on Friday, February 14th. The shares were sold at an average price of $34.88, for a total transaction of $425,884.80. Following the completion of the sale, the director now directly owns 30,406 shares of the company's stock, valued at approximately $1,060,561.28. The trade was a 28.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Patrick J. Haley sold 52,636 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 303,310 shares in the company, valued at $11,216,403.80. The trade was a 14.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,851 shares of company stock worth $5,236,046. Insiders own 2.85% of the company's stock.

Exelixis Stock Performance

Shares of NASDAQ EXEL traded down $0.33 during trading hours on Friday, hitting $36.17. 1,873,841 shares of the stock were exchanged, compared to its average volume of 2,170,347. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.26. The company has a market cap of $9.97 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.13 and a beta of 0.25. The company's fifty day simple moving average is $36.86 and its two-hundred day simple moving average is $35.32.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 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%. As a group, sell-side analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Exelixis Company 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.