Hsbc Holdings PLC Trims Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Hsbc Holdings PLC reduced its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 66.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,088 shares of the biotechnology company's stock after selling 18,038 shares during the quarter. Hsbc Holdings PLC's holdings in Exelixis were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of EXEL. USA Financial Formulas bought a new stake in Exelixis in the 4th quarter valued at $32,000. Principal Securities Inc. increased its position in Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 373 shares during the period. Kestra Investment Management LLC acquired a new stake in Exelixis in the fourth quarter valued at approximately $39,000. UMB Bank n.a. lifted its holdings in Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock worth $45,000 after acquiring an additional 553 shares during the period. Finally, Crowley Wealth Management Inc. bought a new stake in shares of Exelixis during the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Buying and Selling

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the completion of the transaction, the executive vice president now owns 341,028 shares of the company's stock, valued at approximately $13,231,886.40. The trade was a 2.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dana Aftab sold 1,508 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $39.00, for a total transaction of $58,812.00. Following the transaction, the executive vice president now directly owns 693,181 shares of the company's stock, valued at $27,034,059. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,851 shares of company stock worth $5,236,046. Company insiders own 2.82% of the company's stock.

Exelixis Price Performance

NASDAQ:EXEL traded down $0.03 during trading hours on Tuesday, reaching $36.95. 3,110,971 shares of the company traded hands, compared to its average volume of 2,178,820. The stock has a market cap of $10.18 billion, a P/E ratio of 20.88, a P/E/G ratio of 1.13 and a beta of 0.25. The firm's 50-day moving average is $36.83 and its 200-day moving average is $35.49. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $40.26.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.12. Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

EXEL has been the subject of several recent research reports. Citigroup boosted their target price on shares of Exelixis from $38.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Oppenheimer lowered shares of Exelixis from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. Piper Sandler increased their price objective on shares of Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Truist Financial raised their price target on shares of Exelixis from $42.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Finally, Barclays upped their target price on Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Exelixis has an average rating of "Moderate Buy" and an average target price of $37.59.

Exelixis Company 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.