Ruffer LLP Acquires 9,447 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Key Points

• Ruffer LLP increased its holdings in Exelixis, Inc. by 8.5% during the 1st quarter, owning a total of 120,204 shares valued at $4,438,000.
• Insiders at Exelixis sold significant shares recently, with a director selling 18,838 shares worth approximately $805,136, indicating a shift in insider sentiment.
• Exelixis reported $0.75 EPS for the last quarter, surpassing estimates, although its revenue declined by 10.8% year-over-year.

Ruffer LLP lifted its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,204 shares of the biotechnology company's stock after buying an additional 9,447 shares during the period. Ruffer LLP's holdings in Exelixis were worth $4,438,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Coppell Advisory Solutions LLC bought a new position in Exelixis during the 4th quarter worth about $25,000. Colonial Trust Co SC increased its holdings in Exelixis by 616.9% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 765 shares in the last quarter. Bartlett & CO. Wealth Management LLC bought a new position in Exelixis during the 1st quarter worth about $37,000. Harbour Investments Inc. increased its holdings in Exelixis by 900.0% during the 1st quarter. Harbour Investments Inc. now owns 1,100 shares of the biotechnology company's stock worth $41,000 after purchasing an additional 990 shares in the last quarter. Finally, Hurley Capital LLC bought a new position in Exelixis during the 4th quarter worth about $68,000. Institutional investors own 85.27% of the company's stock.

Insider Activity at Exelixis

In other news, EVP Patrick J. Haley sold 126,383 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $47.96, for a total transaction of $6,061,328.68. Following the transaction, the executive vice president directly owned 446,459 shares of the company's stock, valued at approximately $21,412,173.64. This trade represents a 22.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $46.18, for a total transaction of $1,154,500.00. Following the transaction, the executive vice president directly owned 693,396 shares in the company, valued at $32,021,027.28. This represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 456,605 shares of company stock valued at $20,966,005. 2.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

EXEL has been the subject of a number of research reports. Wall Street Zen cut Exelixis from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Truist Financial lowered their target price on Exelixis from $56.00 to $49.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. William Blair restated an "outperform" rating on shares of Exelixis in a research note on Tuesday, July 29th. Citigroup increased their price objective on shares of Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Benchmark restated a "neutral" rating on shares of Exelixis in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $44.44.

Exelixis Price Performance

Exelixis stock traded down $0.32 during trading hours on Thursday, hitting $37.39. The company had a trading volume of 2,654,518 shares, compared to its average volume of 3,100,701. The firm has a market cap of $10.07 billion, a PE ratio of 17.98, a PEG ratio of 0.78 and a beta of 0.29. Exelixis, Inc. has a one year low of $25.12 and a one year high of $49.62. The firm has a 50-day moving average of $42.61 and a 200 day moving average of $38.91.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.12. The firm had revenue of $568.26 million for the quarter, compared to analysts' expectations of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The business's revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. As a group, research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current 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.