Magnetar Financial LLC Acquires Shares of 13,447 Exelixis, Inc. (NASDAQ:EXEL)

Magnetar Financial LLC acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,447 shares of the biotechnology company’s stock, valued at approximately $448,000.

Several other hedge funds also recently added to or reduced their stakes in EXEL. USA Financial Formulas purchased a new stake in shares of Exelixis during the fourth quarter worth about $32,000. Principal Securities Inc. increased its position in shares of Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 373 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Exelixis during the fourth quarter worth about $39,000. Brooklyn Investment Group purchased a new stake in shares of Exelixis during the third quarter worth about $42,000. Finally, UMB Bank n.a. increased its position in shares of Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 553 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Mary C. Beckerle sold 12,210 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $34.88, for a total transaction of $425,884.80. Following the sale, the director now owns 30,406 shares of the company’s stock, valued at $1,060,561.28. The trade was a 28.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Senner sold 29,314 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.14, for a total value of $1,059,407.96. Following the sale, the chief financial officer now directly owns 779,607 shares in the company, valued at approximately $28,174,996.98. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock valued at $5,177,234 over the last quarter. Corporate insiders own 2.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXEL. Oppenheimer downgraded Exelixis from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $41.00 to $33.00 in a research note on Friday, January 24th. Royal Bank of Canada lifted their price target on Exelixis from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, March 13th. Truist Financial lifted their price target on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Morgan Stanley upgraded Exelixis from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $30.00 to $40.00 in a research note on Monday, January 27th. Finally, Bank of America downgraded Exelixis from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $35.00 to $39.00 in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.59.

Exelixis Trading Down 0.6 %

Shares of NASDAQ EXEL opened at $36.96 on Friday. The stock has a 50 day simple moving average of $35.61 and a 200-day simple moving average of $32.86. The company has a market cap of $10.34 billion, a PE ratio of 20.88, a P/E/G ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $40.02.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Sell-side analysts forecast that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Exelixis Company 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.