Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,921 shares of the biotechnology company’s stock after selling 10,464 shares during the period. Bank of Montreal Can’s holdings in Exelixis were worth $3,128,000 at the end of the most recent reporting period.

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

Exelixis Price Performance

Shares of EXEL opened at $36.54 on Wednesday. The business’s 50-day moving average is $36.26 and its 200-day moving average is $34.09. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 20.64, a P/E/G 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) last released its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. Equities research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, Director Jack L. Wyszomierski sold 8,768 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $37.80, for a total value of $331,430.40. Following the completion of the sale, the director now directly owns 356,605 shares of the company’s stock, valued at $13,479,669. The trade was a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bob Oliver sold 18,647 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $37.25, for a total transaction of $694,600.75. Following the transaction, the director now owns 33,514 shares in the company, valued at $1,248,396.50. This represents a 35.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,343 shares of company stock worth $5,177,234. Corporate insiders own 2.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Bank of America downgraded Exelixis from a “buy” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. Piper Sandler upped their price objective 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 target price for the stock from $30.00 to $40.00 in a report on Monday, January 27th. Oppenheimer downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and cut their price target for the company from $41.00 to $33.00 in a report on Friday, January 24th. Finally, BMO Capital Markets cut shares of Exelixis from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.