Hsbc Holdings PLC Sells 29,488 Shares of Exelixis, Inc. $EXEL

Hsbc Holdings PLC lowered its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 53.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,084 shares of the biotechnology company’s stock after selling 29,488 shares during the period. Hsbc Holdings PLC’s holdings in Exelixis were worth $1,149,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Exelixis in the 4th quarter worth approximately $192,000. Wick Capital Partners LLC purchased a new position in Exelixis during the fourth quarter worth about $235,000. Seven Fleet Capital Management LP purchased a new position in Exelixis during the fourth quarter worth about $3,005,000. Van Diest Capital LLC bought a new position in Exelixis in the 4th quarter worth about $340,000. Finally, Invesco Ltd. increased its stake in Exelixis by 1.6% in the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock worth $265,379,000 after acquiring an additional 94,218 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on EXEL shares. Morgan Stanley reiterated a “positive” rating on shares of Exelixis in a research report on Monday, June 22nd. Wells Fargo & Company upped their price objective on shares of Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Stifel Nicolaus raised their target price on shares of Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Citizens Jmp lifted their target price on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 24th. Finally, HC Wainwright reissued a “buy” rating and issued a $56.00 price target on shares of Exelixis in a research note on Thursday, July 2nd. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.93.

Exelixis Price Performance

Shares of Exelixis stock opened at $56.50 on Monday. The company has a 50-day moving average of $51.70 and a 200 day moving average of $46.47. The firm has a market cap of $14.20 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.63 and a beta of 0.42. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data 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 analyst estimates of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. Exelixis’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. On average, equities analysts anticipate that Exelixis, Inc. will post 3.16 EPS for the current year.

Insider Activity

In other news, CFO Christopher J. Senner sold 34,901 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total value of $1,745,050.00. Following the sale, the chief financial officer directly owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. This represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maria C. Freire sold 20,634 shares of the firm’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 of the company’s stock, valued at $4,637,674. The trade was a 16.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 219,170 shares of company stock valued at $10,620,641. 2.60% of the stock is currently owned by insiders.

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.