Tower Research Capital LLC TRC Buys 13,111 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Tower Research Capital LLC TRC grew its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 172.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,703 shares of the biotechnology company’s stock after buying an additional 13,111 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Exelixis were worth $689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. lifted its holdings in Exelixis by 308.1% in 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 during the period. Norges Bank purchased a new stake in shares of Exelixis during the 4th quarter valued at about $94,867,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Exelixis by 104.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company’s stock worth $105,208,000 after purchasing an additional 1,613,482 shares during the period. Allspring Global Investments Holdings LLC grew its position in Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock valued at $52,884,000 after buying an additional 704,786 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Exelixis by 1,637.9% during the 4th quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company’s stock valued at $24,851,000 after acquiring an additional 703,343 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $37.43 on Monday. The company has a market cap of $10.32 billion, a P/E ratio of 21.15, a PEG ratio of 1.13 and a beta of 0.57. The firm has a 50-day simple moving average of $36.68 and a two-hundred day simple moving average of $34.73. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $40.02.

Exelixis (NASDAQ:EXEL) last posted 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%. As a group, equities research analysts expect that Exelixis, Inc. will post 2.04 EPS for the current year.

Insider Buying and Selling at Exelixis

In related news, EVP Patrick J. Haley sold 52,636 shares of the 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 transaction, the executive vice president now owns 303,310 shares of the company’s stock, valued at $11,216,403.80. This represents a 14.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of Exelixis stock in a transaction on Friday, February 14th. The shares were sold at an average price of $34.88, for a total value of $425,884.80. Following the sale, the director now directly owns 30,406 shares of the company’s stock, valued at approximately $1,060,561.28. This trade represents a 28.65 % 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 in the last three months. Company insiders own 2.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 19th. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Exelixis in a research note on Thursday, March 27th. Piper Sandler raised their price objective on Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Truist Financial boosted their target price on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Citigroup raised their price target on Exelixis from $38.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.59.

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.