Federated Hermes Inc. Has $17.86 Million Stake in Exelixis, Inc. (NASDAQ:EXEL)

Key Points

• Federated Hermes Inc. has increased its holdings in Exelixis, Inc. by 18.3%, owning approximately $17.86 million worth of the stock after acquiring an additional 74,806 shares.
• A number of institutional investors, including Picton Mahoney Asset Management and LPL Financial LLC, significantly increased their positions in Exelixis during the first quarter, highlighting strong institutional interest as they now own 85.27% of the company's stock.
• Exelixis reported quarterly earnings of $0.75 EPS, surpassing analysts' expectations, but its revenue decreased by 10.8% compared to the same quarter last year.

Federated Hermes Inc. increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 18.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 483,738 shares of the biotechnology company's stock after purchasing an additional 74,806 shares during the quarter. Federated Hermes Inc. owned approximately 0.18% of Exelixis worth $17,860,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in EXEL. GAMMA Investing LLC grew its holdings in shares of Exelixis by 32.2% in the 1st quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock valued at $201,000 after acquiring an additional 1,328 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Exelixis during the fourth quarter valued at approximately $17,046,000. Wells Fargo & Company MN grew its stake in Exelixis by 1,637.9% in the fourth quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company's stock valued at $24,851,000 after purchasing an additional 703,343 shares in the last quarter. Park Avenue Securities LLC increased its position 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 purchasing an additional 707 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake 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 worth $9,159,000 after purchasing an additional 47,845 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Insiders Place Their Bets

In other news, CMO Amy C. Peterson sold 72,776 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $45.47, for a total transaction of $3,309,124.72. Following the completion of the sale, the chief marketing officer owned 465,393 shares of the company's stock, valued at approximately $21,161,419.71. This represents a 13.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $46.18, for a total transaction of $1,154,500.00. Following the completion of the transaction, the executive vice president directly owned 693,396 shares in the company, valued at $32,021,027.28. This trade represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 456,605 shares of company stock valued at $20,966,005 over the last 90 days. 2.82% of the stock is owned by company insiders.

Exelixis Trading Down 1.6%

Shares of NASDAQ:EXEL traded down $0.60 on Monday, reaching $36.67. 2,618,707 shares of the company's stock were exchanged, compared to its average volume of 3,087,926. Exelixis, Inc. has a twelve month low of $23.21 and a twelve month high of $49.62. The company has a fifty day moving average of $42.93 and a 200-day moving average of $38.93. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 0.77 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.12. The business had revenue of $568.26 million during the quarter, compared to analysts' expectations of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%. The firm's revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. As a group, equities research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on EXEL. JMP Securities reissued a "market outperform" rating and issued a $50.00 target price on shares of Exelixis in a research note on Tuesday, July 29th. Truist Financial decreased their price objective on shares of Exelixis from $56.00 to $49.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Wall Street Zen lowered shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Stifel Nicolaus raised their target price on shares of Exelixis from $38.00 to $41.00 and gave the company a "hold" rating in a research note on Tuesday, July 29th. Finally, Citigroup boosted their price target on Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Exelixis currently has an average rating of "Moderate Buy" and a consensus target price of $44.44.

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.