Exelixis, Inc. $EXEL Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp decreased its holdings in Exelixis, Inc. by 4.3%, resulting in ownership of approximately 2.37 million shares valued at $87.5 million.
• Several institutional investors have increased their positions in Exelixis, with Invesco Ltd. raising its stake by 40.2%, owning over 5.57 million shares valued at $205.7 million.
• Exelixis reported earnings of $0.75 per share for the last quarter, exceeding expectations, but 10.8% lower in revenue compared to the previous year.

Northern Trust Corp reduced its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,370,922 shares of the biotechnology company's stock after selling 107,538 shares during the period. Northern Trust Corp owned 0.86% of Exelixis worth $87,534,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in EXEL. Coppell Advisory Solutions LLC purchased a new position in Exelixis in the fourth quarter valued at approximately $25,000. Hemington Wealth Management lifted its holdings in shares of Exelixis by 211.3% during the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 522 shares during the period. Colonial Trust Co SC lifted its holdings in shares of 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 during the period. Bartlett & CO. Wealth Management LLC acquired a new stake in Exelixis in the first quarter valued at $37,000. Finally, Costello Asset Management INC acquired a new stake in Exelixis in the first quarter valued at $39,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Exelixis

In related news, Director Sue Gail Eckhardt sold 18,838 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $42.74, for a total transaction of $805,136.12. Following the transaction, the director directly owned 21,380 shares in the company, valued at $913,781.20. This trade represents a 46.84% 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, Director Jack L. Wyszomierski sold 7,535 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total value of $324,683.15. Following the transaction, the director owned 358,882 shares in the company, valued at $15,464,225.38. This trade represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.82% of the company's stock.

Exelixis Stock Down 1.6%

Shares of Exelixis stock traded down $0.61 on Thursday, hitting $37.90. 2,245,143 shares of the company's stock traded hands, compared to its average volume of 3,023,812. The stock has a market cap of $10.20 billion, a P/E ratio of 18.22, a PEG ratio of 0.79 and a beta of 0.29. The firm's 50-day moving average is $41.38 and its 200 day moving average is $39.38. Exelixis, Inc. has a 52-week low of $25.12 and a 52-week high of $49.62.

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. The company 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 business's revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. Equities research analysts forecast that Exelixis, Inc. will post 2.04 EPS for the current year.

Analyst Ratings Changes

EXEL has been the topic of several recent research reports. Jefferies Financial Group set a $50.00 price objective on shares of Exelixis and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Bank of America upped their price objective on shares of Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. William Blair reaffirmed an "outperform" rating on shares of Exelixis in a research note on Tuesday, July 29th. Benchmark reissued a "neutral" rating on shares of Exelixis in a research report on Monday, June 23rd. Finally, Stephens raised shares of Exelixis from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.