Exelixis, Inc. $EXEL Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Exelixis, Inc. by 44.9%, holding 602,615 shares worth approximately $22.25 million after purchasing an additional 186,750 shares during Q1.
• Multiple institutional investors have made significant investments in Exelixis, with Invesco Ltd. increasing their holdings by 40.2% and Caisse DE Depot ET Placement DU Quebec raising theirs by 330.4%.
• Exelixis reported earnings of $0.75 per share for the most recent quarter, which surpassed analysts' expectations, though revenue was down 10.8% year-over-year, totaling $568.26 million.

American Century Companies Inc. increased its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 44.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 602,615 shares of the biotechnology company's stock after purchasing an additional 186,750 shares during the quarter. American Century Companies Inc. owned 0.22% of Exelixis worth $22,249,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXEL. Frank Rimerman Advisors LLC lifted its stake in Exelixis by 4.7% in the 1st quarter. Frank Rimerman Advisors LLC now owns 6,342 shares of the biotechnology company's stock valued at $234,000 after buying an additional 285 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Exelixis by 6.1% during the 1st quarter. Farther Finance Advisors LLC now owns 5,372 shares of the biotechnology company's stock worth $195,000 after purchasing an additional 307 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Exelixis by 1.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company's stock worth $573,000 after purchasing an additional 317 shares during the period. Rathbones Group PLC lifted its stake in shares of Exelixis by 5.3% during the 1st quarter. Rathbones Group PLC now owns 6,847 shares of the biotechnology company's stock worth $253,000 after purchasing an additional 347 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Exelixis by 9.2% during the 1st quarter. Larson Financial Group LLC now owns 4,367 shares of the biotechnology company's stock worth $161,000 after purchasing an additional 367 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Exelixis

In related news, Director Jack L. Wyszomierski sold 7,535 shares of the stock in a transaction on 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 directly owned 358,882 shares in the company, valued at approximately $15,464,225.38. This represents a 2.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sue Gail Eckhardt sold 18,838 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $42.74, for a total value of $805,136.12. Following the completion of the sale, the director owned 21,380 shares of the company's stock, valued at approximately $913,781.20. This represents a 46.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EXEL. Stephens raised Exelixis from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $29.00 to $60.00 in a research note on Tuesday, June 24th. Benchmark reissued a "neutral" rating on shares of Exelixis in a research note on Monday, June 23rd. Zacks Research lowered Exelixis from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Citigroup increased their price target on Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Stifel Nicolaus increased their price target on Exelixis from $38.00 to $41.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Exelixis currently has an average rating of "Moderate Buy" and an average target price of $44.06.

Exelixis Stock Performance

Shares of EXEL traded down $0.36 during trading hours on Friday, hitting $37.54. The stock had a trading volume of 282,836 shares, compared to its average volume of 3,006,952. The firm has a market cap of $10.11 billion, a P/E ratio of 18.05, a P/E/G ratio of 0.79 and a beta of 0.29. The company's fifty day simple moving average is $41.32 and its 200 day simple moving average is $39.41. Exelixis, Inc. has a 12-month low of $25.12 and a 12-month high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The business had revenue of $568.26 million for the quarter, compared to analyst estimates of $574.36 million. During the same period last year, the company posted $0.84 EPS. The business's quarterly revenue was down 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Exelixis, Inc. will post 2.04 earnings per share 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.