Capital Impact Advisors LLC Sells 26,055 Shares of Exelixis, Inc. $EXEL

Capital Impact Advisors LLC reduced its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 12.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 175,554 shares of the biotechnology company’s stock after selling 26,055 shares during the quarter. Exelixis accounts for about 2.4% of Capital Impact Advisors LLC’s investment portfolio, making the stock its 21st biggest holding. Capital Impact Advisors LLC’s holdings in Exelixis were worth $7,814,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EXEL. Belpointe Asset Management LLC purchased a new position in Exelixis during the first quarter valued at $572,000. Fox Run Management L.L.C. bought a new position in shares of Exelixis in the second quarter worth about $321,000. D.A. Davidson & CO. bought a new position in shares of Exelixis in the second quarter worth about $212,000. Fortis Capital Advisors LLC purchased a new position in shares of Exelixis during the 1st quarter valued at about $572,000. Finally, Capital Fund Management S.A. grew its stake in shares of Exelixis by 6.6% during the 2nd quarter. Capital Fund Management S.A. now owns 283,639 shares of the biotechnology company’s stock valued at $12,501,000 after acquiring an additional 17,673 shares during the period. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EXEL. Guggenheim cut shares of Exelixis from a “buy” rating to a “neutral” rating in a research note on Monday, November 3rd. TD Cowen lifted their target price on shares of Exelixis from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Leerink Partners upgraded Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research note on Tuesday, October 21st. The Goldman Sachs Group started coverage on Exelixis in a report on Wednesday, September 17th. They set a “buy” rating and a $47.00 price target on the stock. Finally, Stifel Nicolaus set a $43.00 price objective on Exelixis in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Exelixis presently has a consensus rating of “Moderate Buy” and an average target price of $45.45.

Exelixis Stock Down 1.2%

EXEL opened at $40.88 on Friday. The company has a market capitalization of $10.96 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 0.74 and a beta of 0.40. The firm has a 50-day simple moving average of $40.77 and a two-hundred day simple moving average of $40.81. Exelixis, Inc. has a 52 week low of $31.90 and a 52 week high of $49.62.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. The company had revenue of $597.76 million for the quarter, compared to the consensus estimate of $590.04 million. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. As a group, sell-side analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In related news, Director Stelios Papadopoulos sold 100,000 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $43.55, for a total value of $4,355,000.00. Following the completion of the transaction, the director owned 1,189,228 shares of the company’s stock, valued at approximately $51,790,879.40. This trade represents a 7.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary C. Beckerle sold 24,622 shares of Exelixis stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $41.93, for a total value of $1,032,400.46. Following the completion of the transaction, the director owned 21,380 shares of the company’s stock, valued at approximately $896,463.40. This represents a 53.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 245,235 shares of company stock worth $10,490,600 in the last ninety days. Company insiders own 2.82% 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.