Tower Research Capital LLC TRC Has $689,000 Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Tower Research Capital LLC TRC raised its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 172.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,703 shares of the biotechnology company's stock after acquiring an additional 13,111 shares during the period. Tower Research Capital LLC TRC's holdings in Exelixis were worth $689,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tri Ri Asset Management Corp acquired a new stake in shares of Exelixis during the 3rd quarter worth about $4,396,000. Blue Trust Inc. grew its stake in Exelixis by 134.7% during the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock worth $476,000 after buying an additional 8,208 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Exelixis during the fourth quarter worth approximately $17,046,000. Range Financial Group LLC bought a new position in shares of Exelixis in the fourth quarter valued at approximately $994,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Exelixis by 82.1% in 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 acquiring an additional 704,786 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Stock Up 1.8 %

NASDAQ EXEL traded up $0.71 during trading on Friday, reaching $39.60. 1,991,518 shares of the stock traded hands, compared to its average volume of 2,156,354. The stock's 50-day moving average price is $36.95 and its 200 day moving average price is $35.08. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings data 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%. Analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

EXEL has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Morgan Stanley raised Exelixis from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $30.00 to $40.00 in a report on Monday, January 27th. Citigroup increased their price objective on shares of Exelixis from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Stifel Nicolaus boosted their target price on shares of Exelixis from $30.00 to $36.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. Finally, Stephens reissued an "equal weight" rating and set 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 issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.59.

Insider Activity

In related news, Director Jack L. Wyszomierski sold 8,768 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $37.80, for a total transaction of $331,430.40. Following the sale, the director now directly owns 356,605 shares in the company, valued at $13,479,669. This trade represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Patrick J. Haley sold 52,636 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the transaction, the executive vice president now directly owns 303,310 shares of the company's stock, valued at approximately $11,216,403.80. The trade was a 14.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock worth $5,177,234 in the last 90 days. Corporate insiders own 2.85% of the company's stock.

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.