Exelixis, Inc. $EXEL Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in Exelixis, Inc. (NASDAQ:EXEL) by 1,938.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,836 shares of the biotechnology company’s stock after purchasing an additional 66,410 shares during the period. Fifth Third Bancorp’s holdings in Exelixis were worth $2,995,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Exelixis by 81.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock worth $1,592,000 after acquiring an additional 19,407 shares during the period. Goldman Sachs Group Inc. raised its holdings in Exelixis by 4.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after purchasing an additional 68,133 shares during the period. Focus Partners Wealth raised its holdings in Exelixis by 83.4% in the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock worth $1,420,000 after purchasing an additional 17,483 shares during the period. Geneos Wealth Management Inc. boosted its position in Exelixis by 134.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 944 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its holdings in Exelixis by 23.8% in the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after purchasing an additional 2,764 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Down 0.7%

Shares of Exelixis stock opened at $55.53 on Tuesday. The firm has a market cap of $13.96 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.61 and a beta of 0.42. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $57.57. The business’s fifty day simple moving average is $52.76 and its 200-day simple moving average is $46.88.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $56.00 target price on shares of Exelixis in a research note on Thursday, July 2nd. Weiss Ratings raised shares of Exelixis from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, July 8th. TD Cowen upped their price objective on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Truist Financial increased their price objective on shares of Exelixis from $54.00 to $56.00 and gave the company a “hold” rating in a report on Tuesday, July 7th. Finally, Stifel Nicolaus lifted their target price on shares of Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Nine research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.80.

Insiders Place Their Bets

In other news, EVP Dana Aftab sold 43,451 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total value of $2,187,757.85. Following the transaction, the executive vice president directly owned 594,741 shares in the company, valued at approximately $29,945,209.35. This represents a 6.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sue Gail Eckhardt sold 9,812 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $50.14, for a total transaction of $491,973.68. Following the transaction, the director directly owned 16,079 shares of the company’s stock, valued at $806,201.06. The trade was a 37.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 219,170 shares of company stock worth $10,620,641. Insiders own 2.60% of the company’s stock.

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.