Candriam S.C.A. Sells 259,531 Shares of Exelixis, Inc. $EXEL

Key Points

• Candriam S.C.A. reduced its stake in Exelixis, Inc. by 42.2% during the first quarter, now holding 355,140 shares valued at approximately $13.1 million.
• Several institutional investors made adjustments to their positions in Exelixis, including GAMMA Investing LLC which increased its holdings by 32.2%.
• Exelixis reported an EPS of $0.75 for the last quarter, exceeding expectations, but noted a 10.8% decline in revenue year-over-year.

Candriam S.C.A. lessened its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 42.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 355,140 shares of the biotechnology company's stock after selling 259,531 shares during the quarter. Candriam S.C.A. owned 0.13% of Exelixis worth $13,112,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EXEL. Nuveen LLC bought a new position in shares of Exelixis during the 1st quarter valued at $123,310,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Exelixis by 330.4% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company's stock valued at $82,730,000 after purchasing an additional 1,907,167 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Exelixis by 40.2% during the 1st quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock valued at $205,725,000 after purchasing an additional 1,596,948 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of Exelixis by 233.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,400,270 shares of the biotechnology company's stock valued at $51,698,000 after purchasing an additional 980,319 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Exelixis during the 4th quarter valued at $30,321,000. Institutional investors own 85.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group set a $38.00 target price on shares of Exelixis and gave the company a "neutral" rating in a report on Wednesday, July 30th. Morgan Stanley reduced their target price on shares of Exelixis from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Tuesday, July 29th. Citigroup increased their price target on shares of Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen cut shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Benchmark reissued a "neutral" rating on shares of Exelixis in a research report on Monday, June 23rd. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.06.

Exelixis Stock Down 2.3%

Shares of NASDAQ:EXEL traded down $0.8810 on Monday, hitting $37.7490. The company had a trading volume of 901,845 shares, compared to its average volume of 3,030,242. Exelixis, Inc. has a 1 year low of $25.12 and a 1 year high of $49.62. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 18.16, 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 two-hundred day simple moving average is $39.36.

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

Insider Transactions at Exelixis

In other Exelixis news, Director Sue Gail Eckhardt sold 18,838 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $42.74, for a total transaction of $805,136.12. Following the completion of the sale, the director directly owned 21,380 shares in the company, valued at approximately $913,781.20. This trade represents a 46.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack L. Wyszomierski sold 7,535 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total transaction of $324,683.15. Following the sale, the director owned 358,882 shares of the company's stock, valued at approximately $15,464,225.38. This represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.85% 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.