Allspring Global Investments Holdings LLC Has $75.21 Million Stake in Exelixis, Inc. $EXEL

Allspring Global Investments Holdings LLC grew its position in Exelixis, Inc. (NASDAQ:EXEL) by 23.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,707,715 shares of the biotechnology company’s stock after acquiring an additional 323,895 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Exelixis were worth $75,208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC grew its position in Exelixis by 48.8% during the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock worth $598,647,000 after acquiring an additional 4,477,029 shares during the last quarter. Invesco Ltd. raised its position in Exelixis by 1.6% in the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock valued at $265,379,000 after purchasing an additional 94,218 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Exelixis by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,259,677 shares of the biotechnology company’s stock worth $186,705,000 after purchasing an additional 78,765 shares in the last quarter. Morgan Stanley boosted its stake in Exelixis by 31.0% in the fourth quarter. Morgan Stanley now owns 4,206,656 shares of the biotechnology company’s stock worth $184,378,000 after purchasing an additional 995,949 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Exelixis by 40.2% during the fourth quarter. UBS Group AG now owns 3,722,334 shares of the biotechnology company’s stock worth $163,150,000 after purchasing an additional 1,067,265 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Trading Up 0.4%

Exelixis stock opened at $55.92 on Friday. The company has a market cap of $14.06 billion, a PE ratio of 18.58, a PEG ratio of 1.60 and a beta of 0.42. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The company’s 50-day moving average is $52.64 and its two-hundred day moving average is $46.79.

Exelixis (NASDAQ:EXEL) last issued 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. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. During the same quarter in the previous year, the company earned $0.55 EPS. Exelixis’s revenue was up 10.0% on a year-over-year basis. Research analysts forecast that Exelixis, Inc. will post 3.16 EPS for the current year.

Insider Activity

In other Exelixis news, EVP Dana Aftab sold 43,451 shares of Exelixis 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 sale, the executive vice president owned 594,741 shares of the company’s stock, valued at approximately $29,945,209.35. The trade was a 6.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Senner sold 34,901 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the sale, the chief financial officer owned 952,317 shares of the company’s stock, valued at $47,615,850. The trade was a 3.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 219,170 shares of company stock worth $10,620,641. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

EXEL has been the subject of a number of research reports. TD Cowen raised their target price on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Citizens Jmp increased their price objective on shares of Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a report on Wednesday, June 24th. Barclays upped their target price on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Weiss Ratings raised shares of Exelixis from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, July 8th. Finally, Morgan Stanley reissued a “positive” rating on shares of Exelixis in a report on Monday, June 22nd. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.80.

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.