Axim Planning & Wealth Sells 16,327 Shares of Exelixis, Inc. $EXEL

Axim Planning & Wealth cut its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 74.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,490 shares of the biotechnology company’s stock after selling 16,327 shares during the period. Axim Planning & Wealth’s holdings in Exelixis were worth $241,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EXEL. Farallon Capital Management LLC raised its position in shares of Exelixis by 21.6% during the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock valued at $805,412,000 after purchasing an additional 3,466,000 shares during the period. AQR Capital Management LLC raised its position in shares of Exelixis by 20.7% during the 3rd quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock valued at $379,190,000 after purchasing an additional 1,575,280 shares during the period. Invesco Ltd. raised its position in shares of Exelixis by 7.1% during the 3rd quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company’s stock valued at $246,170,000 after purchasing an additional 394,897 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Exelixis by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,259,677 shares of the biotechnology company’s stock valued at $186,705,000 after purchasing an additional 78,765 shares during the period. Finally, Morgan Stanley raised its position in shares of Exelixis by 31.0% during the 4th quarter. Morgan Stanley now owns 4,206,656 shares of the biotechnology company’s stock valued at $184,378,000 after purchasing an additional 995,949 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Exelixis news, Director Sue Gail Eckhardt sold 9,812 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the sale, the director owned 16,079 shares in the company, valued at $806,201.06. The trade was a 37.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Senner sold 34,901 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the completion of the sale, the chief financial officer owned 952,317 shares in the company, valued at approximately $47,615,850. The trade was a 3.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 219,170 shares of company stock worth $10,620,641. 2.60% of the stock is owned by corporate insiders.

Exelixis Stock Down 0.7%

Shares of EXEL stock opened at $53.13 on Friday. The stock has a market cap of $13.35 billion, a P/E ratio of 17.65, a PEG ratio of 1.53 and a beta of 0.41. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $53.93. The company’s fifty day simple moving average is $47.98 and its two-hundred day simple moving average is $44.89.

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

Analyst Upgrades and Downgrades

EXEL has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Zacks Research downgraded shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. TD Cowen raised their price objective on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, HC Wainwright raised their price objective on shares of Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.35.

Exelixis Company 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.