Algert Global LLC Decreases Stock Position in Exelixis, Inc. $EXEL

Key Points

• Algert Global LLC reduced its stake in Exelixis, Inc. by 17.7% in the first quarter, now holding 147,670 shares valued at approximately $5.45 million.
• Insider trading activity included significant sales by director Sue Gail Eckhardt and Jack L. Wyszomierski, with Eckhardt selling 18,838 shares and Wyszomierski disposing of 7,535 shares recently.
• Exelixis reported earnings of $0.75 EPS for the last quarter, surpassing estimates, but experienced a 10.8% revenue decline year-over-year.

Algert Global LLC cut its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,670 shares of the biotechnology company's stock after selling 31,816 shares during the quarter. Algert Global LLC owned 0.05% of Exelixis worth $5,452,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Coppell Advisory Solutions LLC acquired a new stake in shares of Exelixis during the fourth quarter worth $25,000. Hemington Wealth Management lifted its holdings in Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 522 shares during the period. Colonial Trust Co SC lifted its holdings in Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 765 shares during the period. Bartlett & CO. Wealth Management LLC acquired a new stake in Exelixis in the first quarter valued at $37,000. Finally, Costello Asset Management INC acquired a new stake in Exelixis in the first quarter valued at $39,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Exelixis news, Director Jack L. Wyszomierski sold 7,535 shares of Exelixis stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total value of $324,683.15. Following the completion of the sale, the director owned 358,882 shares in the company, valued at $15,464,225.38. The trade was a 2.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sue Gail Eckhardt sold 18,838 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $42.74, for a total value of $805,136.12. Following the sale, the director owned 21,380 shares of the company's stock, valued at $913,781.20. The trade was a 46.84% decrease in their position. The disclosure for this sale can be found here. 2.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EXEL has been the subject of a number of recent analyst reports. William Blair reissued an "outperform" rating on shares of Exelixis in a report on Tuesday, July 29th. Stifel Nicolaus raised their target price on Exelixis from $38.00 to $41.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. Citigroup raised their target price on Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Guggenheim reaffirmed a "buy" rating and set a $45.00 price target on shares of Exelixis in a research note on Tuesday, July 29th. Finally, Jefferies Financial Group set a $50.00 price target on Exelixis and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.06.

Exelixis Stock Performance

Exelixis stock traded down $0.08 during midday trading on Friday, reaching $38.63. 1,509,932 shares of the company were exchanged, compared to its average volume of 3,944,861. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 0.80 and a beta of 0.29. The firm's 50-day simple moving average is $41.56 and its 200-day simple moving average is $39.28. Exelixis, Inc. has a 1 year low of $25.12 and a 1 year high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.63 by $0.12. The company had revenue of $568.26 million during the quarter, compared to analysts' expectations of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The firm's revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. On average, analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

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.