NewEdge Advisors LLC Has $929,000 Holdings in Exelixis, Inc. (NASDAQ:EXEL)

NewEdge Advisors LLC lifted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 113.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,908 shares of the biotechnology company's stock after acquiring an additional 14,857 shares during the quarter. NewEdge Advisors LLC's holdings in Exelixis were worth $929,000 as of its most recent SEC filing.

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

Exelixis Stock Down 0.2 %

Exelixis stock traded down $0.06 during trading hours on Thursday, hitting $39.09. The stock had a trading volume of 500,713 shares, compared to its average volume of 2,176,133. The business's 50 day simple moving average is $36.86 and its 200-day simple moving average is $34.87. Exelixis, Inc. has a one year low of $20.14 and a one year high of $40.02. The stock has a market cap of $10.77 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 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%. Research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Patrick J. Haley sold 10,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $38.80, for a total value of $388,000.00. Following the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jack L. Wyszomierski sold 8,768 shares of Exelixis stock in a transaction on Friday, February 28th. The stock was sold at an average price of $37.80, for a total transaction of $331,430.40. Following the transaction, the director now directly owns 356,605 shares of the company's stock, valued at $13,479,669. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock valued at $5,177,234 over the last 90 days. 2.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Exelixis from $38.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Piper Sandler increased 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. Oppenheimer lowered Exelixis from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $41.00 to $33.00 in a research note on Friday, January 24th. Truist Financial upped their target price on Exelixis from $42.00 to $43.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $29.00 price target on shares of Exelixis in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Exelixis has an average rating of "Moderate Buy" and a consensus target price of $37.59.

Exelixis 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.