Y Intercept Hong Kong Ltd Has $348,000 Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Y Intercept Hong Kong Ltd lessened its position in Exelixis, Inc. (NASDAQ:EXEL) by 74.4% in the 3rd quarter, Holdings Channel reports. The fund owned 13,393 shares of the biotechnology company’s stock after selling 38,998 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Exelixis were worth $348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LSV Asset Management lifted its holdings in shares of Exelixis by 107.7% in the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after purchasing an additional 2,989,021 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Exelixis by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after buying an additional 991,494 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Exelixis in the 3rd quarter worth about $14,979,000. Farallon Capital Management LLC grew its stake in Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after acquiring an additional 424,000 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Exelixis by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after purchasing an additional 370,199 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Price Performance

Exelixis stock opened at $34.69 on Wednesday. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.97. The firm has a fifty day moving average price of $33.04 and a two-hundred day moving average price of $27.38. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 0.89 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. During the same period in the previous year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on EXEL. Guggenheim raised their price target on shares of Exelixis from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Truist Financial boosted their price target on shares of Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. TD Cowen upped their price target on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Morgan Stanley lifted their price objective on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Finally, Piper Sandler upped their target price on Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $31.88.

Insider Transactions at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the transaction, the executive vice president now owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. This represents a 3.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the sale, the executive vice president now directly owns 278,665 shares in the company, valued at approximately $9,828,514.55. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 339,736 shares of company stock worth $11,508,610 over the last three months. 2.85% of the stock is currently owned by 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.