Deutsche Bank AG Increases Holdings in Exelixis, Inc. $EXEL

Key Points

• Deutsche Bank AG increased its stake in Exelixis, Inc. by 63.8% during Q1, holding 75,820 shares valued at approximately $2.80 million.
• Exelixis reported a net income of $0.75 EPS for the last quarter, beating estimates but showing a 10.8% decline in revenue year-over-year.
• 85.27% of Exelixis stock is currently owned by institutional investors and hedge funds, indicating strong institutional interest in the company.

Deutsche Bank AG raised its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 63.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,820 shares of the biotechnology company's stock after acquiring an additional 29,531 shares during the period. Deutsche Bank AG's holdings in Exelixis were worth $2,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Exelixis by 32.2% during the 1st quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock worth $201,000 after acquiring an additional 1,328 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Exelixis by 10.6% during the 1st quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company's stock worth $272,000 after acquiring an additional 707 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Exelixis by 23.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company's stock valued at $9,159,000 after purchasing an additional 47,845 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Exelixis during the 1st quarter valued at approximately $233,000. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Exelixis during the 1st quarter valued at approximately $457,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Performance

Exelixis stock traded down $0.08 during mid-day trading on Friday, hitting $38.63. The company's stock had a trading volume of 1,509,932 shares, compared to its average volume of 3,944,861. The company has a 50 day moving average of $41.56 and a 200-day moving average of $39.32. The stock has a market cap of $10.40 billion, a PE ratio of 18.57, a P/E/G ratio of 0.80 and a beta of 0.29. Exelixis, Inc. has a one year low of $25.12 and a one 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $574.36 million. During the same quarter in the prior year, the company earned $0.84 EPS. The business's revenue was down 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Exelixis news, Director Jack L. Wyszomierski sold 7,535 shares of the 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 directly owned 358,882 shares in the company, valued at approximately $15,464,225.38. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sue Gail Eckhardt sold 18,838 shares of the stock in a transaction dated 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 trade 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.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EXEL. William Blair reissued an "outperform" rating on shares of Exelixis in a research report on Tuesday, July 29th. Jefferies Financial Group set a $50.00 target price on Exelixis and gave the company a "buy" rating in a research report on Tuesday, June 24th. Stephens raised Exelixis from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $29.00 to $60.00 in a research report on Tuesday, June 24th. HC Wainwright cut their target price on Exelixis from $53.00 to $46.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $45.00 price objective on shares of Exelixis in a research report on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Exelixis presently has a consensus rating of "Moderate Buy" and an average price target of $44.06.

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.