Allspring Global Investments Holdings LLC Sells 141,610 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Allspring Global Investments Holdings LLC lessened its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,137,300 shares of the biotechnology company’s stock after selling 141,610 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.38% of Exelixis worth $25,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in Exelixis in the 4th quarter valued at about $73,449,000. LSV Asset Management increased its holdings in shares of Exelixis by 1,651.4% in the first quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock valued at $65,844,000 after purchasing an additional 2,616,278 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Exelixis by 948.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after purchasing an additional 2,220,150 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Exelixis by 148.2% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock worth $53,817,000 after buying an additional 1,354,062 shares in the last quarter. Finally, Swedbank AB bought a new position in Exelixis in the 1st quarter valued at $22,455,000. Institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EXEL has been the topic of several recent research reports. William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Wednesday, May 1st. JMP Securities raised their target price on shares of Exelixis from $27.00 to $29.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and set a $28.00 price target on shares of Exelixis in a research note on Friday, May 3rd. Truist Financial reaffirmed a “buy” rating and issued a $33.00 price objective (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $27.00 target price on shares of Exelixis in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Exelixis currently has a consensus rating of “Moderate Buy” and an average target price of $27.43.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $25.73 on Wednesday. The company has a fifty day moving average price of $23.74 and a 200 day moving average price of $22.73. The firm has a market cap of $7.80 billion, a PE ratio of 40.20, a PEG ratio of 0.60 and a beta of 0.54. Exelixis, Inc. has a 1-year low of $18.64 and a 1-year high of $27.53.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The firm had revenue of $637.18 million during the quarter, compared to analysts’ expectations of $468.21 million. Equities research analysts forecast that Exelixis, Inc. will post 1.15 EPS for the current year.

Insider Transactions at Exelixis

In other Exelixis news, Director David Edward Johnson purchased 225,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $20.76 per share, with a total value of $4,671,000.00. Following the purchase, the director now directly owns 1,525,730 shares of the company’s stock, valued at $31,674,154.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Exelixis news, Director David Edward Johnson purchased 225,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $20.76 per share, with a total value of $4,671,000.00. Following the purchase, the director now directly owns 1,525,730 shares of the company’s stock, valued at $31,674,154.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total transaction of $219,120.00. Following the transaction, the director now directly owns 91,007 shares of the company’s stock, valued at $2,417,145.92. The disclosure for this sale can be found here. Insiders sold 291,145 shares of company stock valued at $7,647,143 in the last ninety days. 2.85% of the stock is currently owned by corporate insiders.

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.