Allspring Global Investments Holdings LLC Decreases Holdings in Exelixis, Inc. $EXEL

Allspring Global Investments Holdings LLC decreased its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 7.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,167,772 shares of the biotechnology company’s stock after selling 92,170 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Exelixis were worth $48,112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in Exelixis by 10.3% in the second quarter. AQR Capital Management LLC now owns 7,606,079 shares of the biotechnology company’s stock worth $335,238,000 after purchasing an additional 712,190 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Exelixis by 0.4% during the second quarter. Geode Capital Management LLC now owns 7,445,469 shares of the biotechnology company’s stock valued at $328,196,000 after buying an additional 28,289 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Exelixis by 42.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock worth $231,951,000 after buying an additional 1,580,567 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Exelixis by 120.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock valued at $134,306,000 after acquiring an additional 1,665,110 shares during the last quarter. Finally, Norges Bank purchased a new stake in Exelixis during the 2nd quarter valued at about $122,099,000. Institutional investors own 85.27% of the company’s stock.

Insider Activity at Exelixis

In other Exelixis news, EVP Dana Aftab sold 48,383 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total value of $2,056,277.50. Following the completion of the sale, the executive vice president directly owned 664,778 shares in the company, valued at $28,253,065. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Stelios Papadopoulos sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total value of $4,355,000.00. Following the transaction, the director owned 1,189,228 shares in the company, valued at $51,790,879.40. This trade represents a 7.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 245,235 shares of company stock valued at $10,490,600. 2.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. HC Wainwright lifted their price target on Exelixis from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Guggenheim cut shares of Exelixis from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. Stifel Nicolaus set a $43.00 target price on shares of Exelixis in a research note on Wednesday, November 5th. UBS Group increased their price target on shares of Exelixis from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.74.

Exelixis Stock Down 0.5%

NASDAQ:EXEL opened at $43.83 on Friday. The stock has a market cap of $11.75 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 0.79 and a beta of 0.40. The firm’s fifty day simple moving average is $42.47 and its 200 day simple moving average is $41.02. Exelixis, Inc. has a twelve month low of $31.90 and a twelve month high of $49.62.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.68 by $0.10. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The business had revenue of $597.76 million during the quarter, compared to analyst estimates of $590.04 million. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS. On average, analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.