Vanguard Group Inc. Trims Stock Holdings in Exelixis, Inc. $EXEL

Key Points

• Vanguard Group trimmed its Exelixis stake by 2.2% in Q4, selling 574,122 shares and now holds 25,490,449 shares (~9.51%) valued at about $1.117 billion.
• EPS beat but revenue missed: Exelixis reported $0.94 EPS vs. $0.74 expected and $598.7M revenue vs. $609.2M expected, with a 33.7% net margin; analysts' consensus is a Hold with a $47 price target.
• Insider selling and institutional ownership: insiders sold 362,849 shares worth ~$15.9M over the last 90 days while hedge funds and other institutions own 85.27% of the stock (insiders own 2.82%).

Vanguard Group Inc. reduced its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,490,449 shares of the biotechnology company's stock after selling 574,122 shares during the period. Vanguard Group Inc. owned approximately 9.51% of Exelixis worth $1,117,246,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. grew its position in Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 292 shares in the last quarter. Anchor Investment Management LLC grew its position in Exelixis by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 500 shares in the last quarter. Root Financial Partners LLC acquired a new position in Exelixis in the 3rd quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. grew its position in Exelixis by 1,380.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company's stock valued at $34,000 after acquiring an additional 773 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Exelixis in the 4th quarter valued at about $44,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price on Exelixis from $48.00 to $49.00 and gave the company an "equal weight" rating in a research report on Monday, February 2nd. Truist Financial raised Exelixis to a "strong-buy" rating in a research report on Monday, April 27th. Stifel Nicolaus boosted their price objective on Exelixis from $43.00 to $44.00 and gave the stock a "hold" rating in a research report on Wednesday, February 11th. Citigroup cut shares of Exelixis from a "market outperform" rating to an "underperform" rating in a research report on Monday, January 5th. Finally, HC Wainwright lifted their price objective on shares of Exelixis from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Exelixis has a consensus rating of "Hold" and a consensus price target of $47.00.

Exelixis Stock Down 1.8%

Shares of Exelixis stock opened at $43.68 on Friday. The firm has a market capitalization of $11.10 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.00 and a beta of 0.38. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $49.62. The firm's 50 day moving average is $43.31 and its two-hundred day moving average is $42.77.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.74 by $0.20. The company had revenue of $598.66 million for the quarter, compared to analyst estimates of $609.17 million. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The firm's revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 earnings per share. As a group, research analysts expect that Exelixis, Inc. will post 3.07 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Brenda Hefti sold 18,669 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total transaction of $821,622.69. Following the completion of the sale, the senior vice president owned 96,512 shares in the company, valued at $4,247,493.12. This represents a 16.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Senner sold 30,617 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.67, for a total transaction of $1,337,044.39. Following the sale, the chief financial officer owned 976,092 shares of the company's stock, valued at approximately $42,625,937.64. This represents a 3.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 362,849 shares of company stock worth $15,917,463 over the last 90 days. 2.82% of the stock is owned by corporate insiders.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis's translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company's most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.

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