Insider Selling: Exelixis (NASDAQ:EXEL) Director Sells $526,511.92 in Stock

Key Points

• Exelixis director Mary Beckerle sold 9,812 shares for approximately $526,512 under a pre-arranged Rule 10b5-1 trading plan, reducing her ownership by 37.9% to 16,079 shares.
• Exelixis reported quarterly EPS of $0.91, beating estimates of $0.85, while revenue rose 10.6% year over year to $628.69 million, slightly below expectations.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $49.79 price target; the stock recently traded at $50.38, while institutional investors own 85.27% of shares.

Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the transaction, the director owned 16,079 shares of the company's stock, valued at $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Exelixis Stock Performance

EXEL traded down $0.95 during trading hours on Wednesday, reaching $50.38. The company's stock had a trading volume of 2,938,697 shares, compared to its average volume of 2,681,125. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $57.57. The company's 50-day moving average is $54.25 and its 200-day moving average is $48.12. The firm has a market cap of $12.48 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The firm had revenue of $628.69 million during the quarter, compared to analysts' expectations of $636.40 million. During the same period in the previous year, the business posted $0.75 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts anticipate that Exelixis, Inc. will post 3.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EXEL has been the topic of several research analyst reports. Leerink Partners cut shares of Exelixis from an "outperform" rating to a "market perform" rating and set a $52.00 price target on the stock. in a report on Thursday, August 6th. Citigroup reiterated a "market outperform" rating on shares of Exelixis in a research report on Wednesday, July 22nd. TD Cowen upped their price target on shares of Exelixis from $51.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Exelixis from a "buy (b)" rating to a "buy (a-)" rating in a research note on Tuesday. Finally, UBS Group set a $55.00 target price on shares of Exelixis in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $49.79.

Institutional Trading of Exelixis

Several institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Exelixis by 81.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company's stock valued at $1,592,000 after purchasing an additional 19,407 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Exelixis by 4.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company's stock valued at $54,153,000 after acquiring an additional 68,133 shares in the last quarter. Focus Partners Wealth grew its position in Exelixis by 83.4% during the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company's stock worth $1,420,000 after acquiring an additional 17,483 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Exelixis by 134.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company's stock worth $61,000 after purchasing an additional 944 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its position in Exelixis by 23.8% in the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company's stock valued at $633,000 after purchasing an additional 2,764 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

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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