Legal & General Group Plc Sells 27,755 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Legal & General Group Plc trimmed its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 4.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 576,058 shares of the biotechnology company's stock after selling 27,755 shares during the period. Legal & General Group Plc owned about 0.20% of Exelixis worth $19,183,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tri Ri Asset Management Corp bought a new stake in Exelixis in the third quarter valued at about $4,396,000. Blue Trust Inc. raised its position in shares of Exelixis by 134.7% in the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock valued at $476,000 after acquiring an additional 8,208 shares during the period. Range Financial Group LLC bought a new position in Exelixis during the 4th quarter worth approximately $994,000. Allspring Global Investments Holdings LLC grew its holdings in Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock valued at $52,884,000 after purchasing an additional 704,786 shares during the period. Finally, Inspire Investing LLC increased its stake in Exelixis by 25.0% in the fourth quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company's stock valued at $1,221,000 after purchasing an additional 7,331 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Stephens reissued an "equal weight" rating and issued a $29.00 price target on shares of Exelixis in a report on Wednesday, February 12th. Stifel Nicolaus boosted their target price on Exelixis from $30.00 to $36.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. Piper Sandler raised their price target on Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Barclays boosted their price objective on Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, February 13th. Finally, UBS Group restated an "underperform" rating on shares of Exelixis in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $37.59.

Insider Buying and Selling

In related news, CFO Christopher J. Senner sold 29,314 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.14, for a total value of $1,059,407.96. Following the transaction, the chief financial officer now owns 779,607 shares in the company, valued at approximately $28,174,996.98. This represents a 3.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now owns 341,028 shares of the company's stock, valued at approximately $13,231,886.40. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,343 shares of company stock valued at $5,177,234. 2.85% of the stock is owned by insiders.

Exelixis Trading Up 0.1 %

Shares of NASDAQ:EXEL traded up $0.04 during trading on Friday, hitting $36.19. 2,255,373 shares of the company were exchanged, compared to its average volume of 2,175,995. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02. The stock has a market cap of $10.13 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 1.13 and a beta of 0.57. The firm has a fifty day moving average price of $36.44 and a two-hundred day moving average price of $34.25.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). 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 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.