JPMorgan Chase & Co. Trims Position in Exelixis, Inc. (NASDAQ:EXEL)

JPMorgan Chase & Co. cut its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 12.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,430,653 shares of the biotechnology company’s stock after selling 618,203 shares during the period. JPMorgan Chase & Co.’s holdings in Exelixis were worth $114,975,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Retirement Systems of Alabama increased its stake in Exelixis by 24.6% in the third quarter. Retirement Systems of Alabama now owns 911,497 shares of the biotechnology company’s stock valued at $23,653,000 after purchasing an additional 180,021 shares during the last quarter. Tri Ri Asset Management Corp purchased a new stake in Exelixis in the 3rd quarter valued at about $4,396,000. Tidal Investments LLC increased its stake in shares of Exelixis by 2.3% during the 3rd quarter. Tidal Investments LLC now owns 36,366 shares of the biotechnology company’s stock valued at $944,000 after acquiring an additional 823 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Exelixis by 42.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 39,261 shares of the biotechnology company’s stock worth $1,019,000 after acquiring an additional 11,757 shares during the period. Finally, TD Private Client Wealth LLC boosted its position in shares of Exelixis by 376.8% in the third quarter. TD Private Client Wealth LLC now owns 9,756 shares of the biotechnology company’s stock worth $253,000 after acquiring an additional 7,710 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the transaction, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at $15,666,873. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the sale, the executive vice president now owns 288,665 shares in the company, valued at approximately $9,918,529.40. This trade represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 314,736 shares of company stock worth $10,849,110. Insiders own 2.85% of the company’s stock.

Exelixis Price Performance

Shares of Exelixis stock opened at $33.30 on Thursday. Exelixis, Inc. has a 1-year low of $19.20 and a 1-year high of $36.97. The company has a market capitalization of $9.51 billion, a PE ratio of 21.35, a P/E/G ratio of 0.89 and a beta of 0.52. The business has a 50-day moving average of $34.33 and a 200-day moving average of $28.24.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same quarter last year, the firm earned $0.10 EPS. Exelixis’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities analysts expect that Exelixis, Inc. will post 1.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EXEL shares. TD Cowen increased their price target on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Brookline Capital Management started coverage on Exelixis in a report on Monday, December 23rd. They issued a “buy” rating on the stock. JMP Securities restated a “market outperform” rating and set a $29.00 price target on shares of Exelixis in a research note on Friday, October 11th. Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $35.00 to $39.00 in a research note on Tuesday, December 17th. Finally, UBS Group started coverage on shares of Exelixis in a report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and an average price target of $32.44.

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.