Jacobs Levy Equity Management Inc. Decreases Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Jacobs Levy Equity Management Inc. decreased its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 17.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,082,283 shares of the biotechnology company’s stock after selling 438,900 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.73% of Exelixis worth $54,035,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in Exelixis during the third quarter worth about $30,000. Brooklyn Investment Group bought a new position in Exelixis in the 3rd quarter worth approximately $42,000. GAMMA Investing LLC boosted its holdings in Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,041 shares during the period. Capital Performance Advisors LLP purchased a new position in Exelixis in the 3rd quarter valued at approximately $61,000. Finally, Essex Investment Management Co. LLC bought a new stake in Exelixis during the 3rd quarter valued at $74,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity

In related news, EVP Dana Aftab sold 96,986 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the transaction, the executive vice president now owns 498,945 shares in the company, valued at $17,463,075. The trade was a 16.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 339,736 shares of company stock valued at $11,508,610. 2.85% of the stock is currently owned by company insiders.

Exelixis Stock Down 0.9 %

Shares of NASDAQ:EXEL opened at $35.26 on Wednesday. The stock has a market cap of $10.07 billion, a PE ratio of 22.60, a PEG ratio of 0.90 and a beta of 0.52. The company’s fifty day moving average is $31.00 and its 200 day moving average is $26.25. Exelixis, Inc. has a 52 week low of $19.20 and a 52 week high of $36.97.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. Sell-side analysts anticipate that Exelixis, Inc. will post 1.69 EPS for the current year.

Analyst Upgrades and Downgrades

EXEL has been the subject of a number of analyst reports. BMO Capital Markets raised their price target on Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Stephens lifted their target price on Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial increased their price target on shares of Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Exelixis in a research note on Wednesday, October 30th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Exelixis has an average rating of “Moderate Buy” and an average price target of $31.44.

Exelixis Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.