Seven Eight Capital LP Has $2.17 Million Stake in Exelixis, Inc. (NASDAQ:EXEL)

Seven Eight Capital LP lifted its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 27.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,404 shares of the biotechnology company’s stock after purchasing an additional 20,743 shares during the quarter. Seven Eight Capital LP’s holdings in Exelixis were worth $2,166,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC grew its holdings in Exelixis by 232.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after buying an additional 728 shares in the last quarter. Rise Advisors LLC bought a new stake in Exelixis during the first quarter worth $28,000. Park Place Capital Corp bought a new stake in Exelixis during the second quarter worth $45,000. GAMMA Investing LLC grew its holdings in Exelixis by 107.9% during the second 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 in the last quarter. Finally, EntryPoint Capital LLC grew its holdings in Exelixis by 537.2% during the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after buying an additional 1,746 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

Shares of EXEL opened at $26.82 on Thursday. The stock’s 50-day simple moving average is $24.94 and its 200 day simple moving average is $23.26. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 41.91, a price-to-earnings-growth ratio of 0.58 and a beta of 0.54. Exelixis, Inc. has a 52-week low of $18.64 and a 52-week high of $27.83.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. The business had revenue of $637.18 million for the quarter, compared to analysts’ expectations of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. On average, research analysts forecast that Exelixis, Inc. will post 1.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EXEL. JMP Securities upped their price target on Exelixis from $27.00 to $29.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Tuesday, July 30th. Truist Financial restated a “buy” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.50.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the sale, the director now owns 91,007 shares of the company’s stock, valued at approximately $2,417,145.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the sale, the director now owns 91,007 shares of the company’s stock, valued at approximately $2,417,145.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.79, for a total value of $515,800.00. Following the completion of the sale, the executive vice president now directly owns 630,325 shares in the company, valued at approximately $16,256,081.75. The disclosure for this sale can be found here. Insiders have sold a total of 302,858 shares of company stock valued at $7,980,629 in the last 90 days. Corporate insiders own 2.85% of the company’s stock.

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.