Exelixis, Inc. (NASDAQ:EXEL) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 25.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,314,575 shares of the biotechnology company’s stock after selling 1,116,078 shares during the period. JPMorgan Chase & Co.’s holdings in Exelixis were worth $110,375,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in EXEL. Principal Securities Inc. lifted its holdings in Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 373 shares during the period. USA Financial Formulas acquired a new stake in shares of Exelixis in the 4th quarter worth approximately $32,000. Kestra Investment Management LLC bought a new position in shares of Exelixis in the fourth quarter valued at approximately $39,000. UMB Bank n.a. increased its stake in shares of Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 553 shares during the period. Finally, Crowley Wealth Management Inc. bought a new stake in Exelixis during the fourth quarter worth approximately $50,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

Exelixis stock opened at $37.04 on Thursday. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $40.02. The firm has a fifty day moving average price of $35.80 and a two-hundred day moving average price of $33.48. The firm has a market cap of $10.37 billion, a price-to-earnings ratio of 20.93, 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 the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, sell-side analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EXEL has been the subject of a number of research reports. Oppenheimer lowered Exelixis from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $41.00 to $33.00 in a research note on Friday, January 24th. Stephens reaffirmed an “equal weight” rating and set a $29.00 target price on shares of Exelixis in a research note on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and issued a $41.00 price target on shares of Exelixis in a research report on Thursday, January 23rd. Citigroup raised their price objective on shares of Exelixis from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Brookline Capital Management started coverage on shares of Exelixis in a research note on Monday, December 23rd. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Exelixis has a consensus rating of “Moderate Buy” and an average price target of $37.59.

Insider Buying and Selling

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $38.80, for a total transaction of $388,000.00. Following the sale, the executive vice president now owns 341,028 shares in the company, valued at $13,231,886.40. The trade was a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bob Oliver sold 18,647 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $37.25, for a total transaction of $694,600.75. Following the transaction, the director now directly owns 33,514 shares of the company’s stock, valued at $1,248,396.50. The trade was a 35.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock valued at $5,177,234 over the last three months. 2.85% of the stock is owned by corporate insiders.

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.