Capital Fund Management S.A. Cuts Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Capital Fund Management S.A. decreased its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 327,581 shares of the biotechnology company’s stock after selling 2,220 shares during the quarter. Capital Fund Management S.A. owned about 0.11% of Exelixis worth $10,908,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Exelixis in the 4th quarter worth about $17,046,000. Applied Finance Capital Management LLC purchased a new position in Exelixis in the fourth quarter worth about $245,000. Greenland Capital Management LP bought a new position in shares of Exelixis in the fourth quarter worth approximately $333,000. Rathbones Group PLC purchased a new stake in shares of Exelixis during the fourth quarter valued at approximately $216,000. Finally, Invesco Ltd. increased its position in shares of Exelixis by 308.1% during the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company’s stock valued at $132,376,000 after acquiring an additional 3,001,204 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Performance

NASDAQ:EXEL opened at $35.31 on Friday. The stock has a 50-day simple moving average of $36.16 and a two-hundred day simple moving average of $33.95. Exelixis, Inc. has a 52-week low of $20.14 and a 52-week high of $40.02. The firm has a market capitalization of $9.88 billion, a PE ratio of 19.95, a P/E/G ratio of 1.13 and a beta of 0.57.

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

Analyst Ratings Changes

Several analysts have commented on EXEL shares. Morgan Stanley upgraded Exelixis from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $30.00 to $40.00 in a research note on Monday, January 27th. Royal Bank of Canada increased their price objective on Exelixis from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, March 13th. Brookline Capital Management assumed coverage on Exelixis in a research report on Monday, December 23rd. They issued a “buy” rating for the company. Barclays raised their price target on shares of Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Finally, Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $41.00 to $33.00 in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.59.

Insider Transactions at Exelixis

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

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.