Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC reduced its stake in Exelixis, Inc. by 4.5% during the first quarter, holding approximately 0.05% of the company's shares worth $5,318,000.
• Insider activity included sales by CMO Amy C. Peterson and EVP Patrick J. Haley, collectively offloading over 199,159 shares, indicating significant decreases in their ownership.
• Exelixis reported a net margin of 27.01% and an EPS of $0.75, surpassing analyst expectations despite a 10.8% year-over-year revenue decline.

Mutual of America Capital Management LLC lessened its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 144,051 shares of the biotechnology company's stock after selling 6,803 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Exelixis worth $5,318,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Coppell Advisory Solutions LLC acquired a new stake in Exelixis in the fourth quarter worth about $25,000. Colonial Trust Co SC raised its holdings in Exelixis by 616.9% during the fourth 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 acquired a new stake in Exelixis in the first quarter worth approximately $37,000. True Wealth Design LLC lifted its position in Exelixis by 222.3% in the fourth quarter. True Wealth Design LLC now owns 2,253 shares of the biotechnology company's stock worth $75,000 after purchasing an additional 1,554 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in Exelixis during the 4th quarter valued at $100,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on EXEL. JMP Securities restated a "market outperform" rating and issued a $50.00 price objective on shares of Exelixis in a report on Tuesday, July 29th. Citigroup upped their price target on Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Wall Street Zen downgraded Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. HC Wainwright boosted their target price on Exelixis from $47.00 to $53.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Finally, Benchmark reaffirmed a "neutral" rating on shares of Exelixis in a report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $44.44.

Insider Activity

In related news, CMO Amy C. Peterson sold 72,776 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $45.47, for a total value of $3,309,124.72. Following the completion of the transaction, the chief marketing officer directly owned 465,393 shares in the company, valued at approximately $21,161,419.71. This represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 126,383 shares of Exelixis stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $47.96, for a total transaction of $6,061,328.68. Following the sale, the executive vice president owned 446,459 shares in the company, valued at $21,412,173.64. This represents a 22.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 456,605 shares of company stock worth $20,966,005. Corporate insiders own 2.82% of the company's stock.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $37.39 on Friday. The stock's 50-day moving average is $42.51 and its 200-day moving average is $38.92. Exelixis, Inc. has a 52-week low of $25.12 and a 52-week high of $49.62. The company has a market cap of $10.07 billion, a P/E ratio of 17.98, a P/E/G ratio of 0.78 and a beta of 0.29.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS 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 company had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. During the same period in the previous year, the business posted $0.84 EPS. The company's revenue for the quarter was down 10.8% on a year-over-year basis. As a group, equities analysts predict that Exelixis, Inc. will post 2.04 EPS for the current 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.

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