Neo Ivy Capital Management Has $1.04 Million Stake in Exelixis, Inc. (NASDAQ:EXEL)

Key Points

• Neo Ivy Capital Management reduced its holdings in Exelixis, Inc. by 47.9%, owning 28,056 shares valued at approximately $1.04 million as of their latest SEC filing.
• Institutional investors and hedge funds own 85.27% of Exelixis stock, with significant increases in stakes from various investment firms reported in the fourth quarter.
• Analysts have a consensus rating of "Moderate Buy" for Exelixis, with price targets ranging from $45.00 to $53.00 from multiple research firms.

Neo Ivy Capital Management lessened its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 47.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,056 shares of the biotechnology company's stock after selling 25,836 shares during the period. Neo Ivy Capital Management's holdings in Exelixis were worth $1,036,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Coppell Advisory Solutions LLC acquired a new position in shares of Exelixis in the 4th quarter valued at $25,000. Colonial Trust Co SC increased its stake in Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 765 shares during the period. Bartlett & CO. Wealth Management LLC bought a new stake in Exelixis in the first quarter valued at about $37,000. Hurley Capital LLC acquired a new position in Exelixis in the fourth quarter worth about $68,000. Finally, True Wealth Design LLC raised 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 in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on EXEL shares. Guggenheim reiterated a "buy" rating and issued a $45.00 price objective on shares of Exelixis in a research note on Tuesday. Stifel Nicolaus boosted their price target on Exelixis from $38.00 to $41.00 and gave the company a "hold" rating in a research note on Tuesday. Bank of America upped their price target on Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a research report on Thursday, June 5th. Barclays increased their price objective on Exelixis from $29.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, UBS Group reduced their target price on shares of Exelixis from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $44.44.

Insider Transactions at Exelixis

In other Exelixis news, CMO Amy C. Peterson sold 72,776 shares of the company's stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tomas J. Heyman sold 4,544 shares of Exelixis stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $44.29, for a total transaction of $201,253.76. Following the sale, the director owned 32,470 shares of the company's stock, valued at approximately $1,438,096.30. This represents a 12.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 458,113 shares of company stock valued at $21,024,817. 2.85% of the stock is currently owned by insiders.

Exelixis Stock Up 1.6%

EXEL stock traded up $0.61 during trading on Wednesday, hitting $37.55. The company had a trading volume of 1,473,768 shares, compared to its average volume of 3,034,797. The firm has a 50-day moving average price of $43.30 and a 200-day moving average price of $38.90. Exelixis, Inc. has a 12 month low of $23.13 and a 12 month high of $49.62. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 0.88 and a beta of 0.28.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its earnings results on Monday, July 28th. The biotechnology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.63 by $0.12. Exelixis had a return on equity of 26.90% and a net margin of 27.01%. 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 firm earned $0.84 EPS. The business's revenue for the quarter was down 10.8% on a year-over-year basis. Equities analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

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.