Corient Private Wealth LLC Has $1.52 Million Position in Exelixis, Inc. (NASDAQ:EXEL)

Corient Private Wealth LLC raised its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 111.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,799 shares of the biotechnology company’s stock after acquiring an additional 24,108 shares during the quarter. Corient Private Wealth LLC’s holdings in Exelixis were worth $1,523,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. USA Financial Formulas bought a new position in Exelixis during the 4th quarter valued at about $32,000. Principal Securities Inc. raised its stake in shares of Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 373 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Exelixis in the 4th quarter worth approximately $39,000. Brooklyn Investment Group acquired a new stake in Exelixis during the 3rd quarter valued at $42,000. Finally, UMB Bank n.a. increased its holdings in Exelixis by 68.4% during the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 553 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Activity at Exelixis

In other news, Director Bob Oliver sold 18,647 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $37.25, for a total value of $694,600.75. Following the sale, the director now owns 33,514 shares of the company’s stock, valued at $1,248,396.50. The trade was a 35.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Senner sold 29,314 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the completion of the transaction, the chief financial officer now directly owns 779,607 shares of the company’s stock, valued at approximately $28,174,996.98. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 140,343 shares of company stock worth $5,177,234. 2.85% of the stock is owned by company insiders.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $37.71 on Wednesday. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 1.13 and a beta of 0.57. The firm’s 50 day simple moving average is $35.70 and its 200 day simple moving average is $33.09.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results 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 net margin of 24.04% and a return on equity of 23.52%. Equities research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on EXEL shares. Truist Financial increased their target price on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. UBS Group raised their price objective on shares of Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Royal Bank of Canada upped their target price on shares of Exelixis from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, March 13th. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $30.00 to $40.00 in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.59.

About Exelixis

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.