Truist Financial Corp Has $265,000 Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Truist Financial Corp lessened its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 79.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,813 shares of the biotechnology company’s stock after selling 45,349 shares during the quarter. Truist Financial Corp’s holdings in Exelixis were worth $265,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in EXEL. Creative Planning lifted its position in shares of Exelixis by 0.8% during the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock worth $1,611,000 after purchasing an additional 548 shares during the last quarter. Algert Global LLC increased its position in Exelixis by 7.6% in the 2nd quarter. Algert Global LLC now owns 276,352 shares of the biotechnology company’s stock worth $6,210,000 after buying an additional 19,559 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Exelixis by 62.1% during the second quarter. Mackenzie Financial Corp now owns 433,311 shares of the biotechnology company’s stock worth $9,736,000 after buying an additional 166,057 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in shares of Exelixis by 137.1% in the second quarter. Deerfield Management Company L.P. Series C now owns 20,816 shares of the biotechnology company’s stock valued at $468,000 after acquiring an additional 12,036 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Exelixis by 12.7% in the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after acquiring an additional 370,199 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $28.90 on Friday. The company has a market capitalization of $8.76 billion, a PE ratio of 45.16, a P/E/G ratio of 0.54 and a beta of 0.54. The company’s fifty day moving average is $26.42 and its 200-day moving average is $23.83. Exelixis, Inc. has a 52 week low of $18.64 and a 52 week high of $29.75.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. The firm had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. On average, analysts forecast that Exelixis, Inc. will post 1.59 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $29.00 price target on shares of Exelixis in a report on Wednesday, September 18th. JMP Securities reiterated a “market outperform” rating and issued a $29.00 target price on shares of Exelixis in a research note on Friday, October 11th. Truist Financial restated a “buy” rating and set a $33.00 price target (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Finally, Stifel Nicolaus boosted their price objective on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.07.

Insider Buying and Selling

In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the transaction, the director now owns 91,007 shares of the company’s stock, valued at approximately $2,417,145.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the sale, the director now directly owns 91,007 shares in the company, valued at approximately $2,417,145.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the transaction, the chief financial officer now owns 721,680 shares in the company, valued at approximately $19,622,479.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,858 shares of company stock worth $8,640,129 in the last three months. Insiders own 2.85% of the company’s stock.

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.