Park Avenue Securities LLC Sells 2,984 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Park Avenue Securities LLC cut its holdings in shares of Exelixis, Inc. (NASDAQ:EXELGet Rating) by 19.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,698 shares of the biotechnology company’s stock after selling 2,984 shares during the period. Park Avenue Securities LLC’s holdings in Exelixis were worth $199,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. bought a new position in Exelixis during the second quarter worth about $36,000. Seaport Global Advisors LLC lifted its holdings in Exelixis by 27.5% during the second quarter. Seaport Global Advisors LLC now owns 13,531 shares of the biotechnology company’s stock worth $282,000 after acquiring an additional 2,922 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Exelixis by 124.4% during the second quarter. AQR Capital Management LLC now owns 1,964,719 shares of the biotechnology company’s stock worth $40,493,000 after acquiring an additional 1,089,169 shares in the last quarter. Juncture Wealth Strategies LLC bought a new position in Exelixis during the third quarter worth about $337,000. Finally, Assetmark Inc. raised its stake in shares of Exelixis by 371.7% in the 2nd quarter. Assetmark Inc. now owns 7,571 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 5,966 shares during the period. 84.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Exelixis news, Director George Poste sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $16.68, for a total transaction of $667,200.00. Following the transaction, the director now owns 193,189 shares of the company’s stock, valued at $3,222,392.52. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Exelixis news, Director George Poste sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $16.68, for a total transaction of $667,200.00. Following the transaction, the director now owns 193,189 shares of the company’s stock, valued at $3,222,392.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Peter Lamb sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $15.88, for a total value of $317,600.00. Following the sale, the executive vice president now owns 410,958 shares of the company’s stock, valued at approximately $6,526,013.04. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Cowen dropped their price target on Exelixis from $21.00 to $20.00 in a research note on Monday, January 9th. JMP Securities dropped their price target on Exelixis from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 19th. Truist Financial dropped their price target on Exelixis from $35.00 to $32.00 in a research note on Friday, December 9th. EF Hutton Acquisition Co. I dropped their price target on Exelixis from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, January 11th. Finally, Cowen dropped their price target on Exelixis from $26.00 to $21.00 in a research note on Wednesday, November 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.45.

Exelixis Stock Up 2.0 %

Shares of NASDAQ EXEL opened at $17.36 on Wednesday. The business’s 50 day moving average price is $16.47 and its two-hundred day moving average price is $17.53. The company has a market cap of $5.60 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 0.56 and a beta of 0.69. Exelixis, Inc. has a twelve month low of $14.87 and a twelve month high of $23.40.

Exelixis (NASDAQ:EXELGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The biotechnology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. The firm had revenue of $411.74 million for the quarter, compared to the consensus estimate of $404.15 million. Exelixis had a return on equity of 13.11% and a net margin of 18.78%. As a group, research analysts anticipate that Exelixis, Inc. will post 0.53 EPS for the current fiscal year.

About Exelixis

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Exelixis, Inc is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of COMETRIQ, CABOMETYX, COTELLIC, and MINNEBRO. The company was founded by Corey S. Goodman and Stelios B.

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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