Riverwater Partners LLC Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

Riverwater Partners LLC purchased a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 57,444 shares of the biotechnology company’s stock, valued at approximately $1,913,000. Exelixis makes up about 0.9% of Riverwater Partners LLC’s investment portfolio, making the stock its 26th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in Exelixis by 18.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 290 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Exelixis by 4.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock valued at $235,000 after acquiring an additional 330 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Exelixis by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 58,159 shares of the biotechnology company’s stock valued at $1,937,000 after acquiring an additional 354 shares in the last quarter. Principal Securities Inc. lifted its holdings in Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 373 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its position in Exelixis by 37.3% during the fourth quarter. V Square Quantitative Management LLC now owns 1,563 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 425 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Transactions at Exelixis

In other news, EVP Patrick J. Haley sold 52,636 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the sale, the executive vice president now directly owns 303,310 shares in the company, valued at approximately $11,216,403.80. This trade represents a 14.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jack L. Wyszomierski sold 8,768 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $37.80, for a total transaction of $331,430.40. Following the sale, the director now directly owns 356,605 shares in the company, valued at approximately $13,479,669. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,343 shares of company stock valued at $5,177,234. Corporate insiders own 2.85% of the company’s stock.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $34.57 on Friday. The business’s fifty day moving average price is $35.90 and its two-hundred day moving average price is $33.56. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share 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%. Research analysts expect that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EXEL. JMP Securities restated a “market outperform” rating and issued a $41.00 price objective on shares of Exelixis in a research note on Thursday, January 23rd. Wells Fargo & Company cut shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a report on Monday, February 24th. Brookline Capital Management began coverage on Exelixis in a research report on Monday, December 23rd. They issued a “buy” rating on the stock. Truist Financial boosted their price objective on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $29.00 target price on shares of Exelixis in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Exelixis has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

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.