Bank of New York Mellon Corp Sells 285,584 Shares of Exelixis, Inc. $EXEL

Bank of New York Mellon Corp lowered its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,044,030 shares of the biotechnology company’s stock after selling 285,584 shares during the quarter. Bank of New York Mellon Corp’s holdings in Exelixis were worth $89,590,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. RHS Financial LLC grew its holdings in Exelixis by 2.4% during the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock worth $553,000 after acquiring an additional 293 shares during the period. Cim LLC lifted its stake in Exelixis by 0.9% in the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock valued at $1,462,000 after buying an additional 305 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Exelixis by 5.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,919 shares of the biotechnology company’s stock worth $327,000 after purchasing an additional 384 shares during the period. North Star Asset Management Inc. boosted its position in shares of Exelixis by 0.7% during the third quarter. North Star Asset Management Inc. now owns 57,550 shares of the biotechnology company’s stock worth $2,377,000 after buying an additional 400 shares during the period. Finally, Spire Wealth Management raised its holdings in shares of Exelixis by 4.5% in the fourth quarter. Spire Wealth Management now owns 9,643 shares of the biotechnology company’s stock valued at $423,000 after purchasing an additional 416 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Trading Down 1.8%

NASDAQ EXEL opened at $51.74 on Tuesday. The firm has a market capitalization of $13.00 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41. The business’s 50-day moving average price is $47.15 and its two-hundred day moving average price is $44.60. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $52.98.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The firm had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. During the same quarter last year, the business earned $0.55 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. As a group, analysts forecast that Exelixis, Inc. will post 3.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on EXEL. Royal Bank Of Canada lowered their target price on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. HC Wainwright lifted their target price on shares of Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wells Fargo & Company upped their price objective on Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Truist Financial raised Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $47.35.

Insiders Place Their Bets

In related news, Director Maria C. Freire sold 20,634 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $46.00, for a total value of $949,164.00. Following the transaction, the director owned 100,819 shares in the company, valued at $4,637,674. The trade was a 16.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dana Aftab sold 43,451 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the completion of the transaction, the executive vice president owned 594,741 shares in the company, valued at approximately $29,945,209.35. The trade was a 6.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 219,170 shares of company stock valued at $10,620,641 over the last quarter. Company insiders own 2.60% of the company’s stock.

Exelixis Profile

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.