Schroder Investment Management Group Buys 260,940 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Schroder Investment Management Group lifted its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 87.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 558,798 shares of the biotechnology company’s stock after acquiring an additional 260,940 shares during the quarter. Schroder Investment Management Group’s holdings in Exelixis were worth $18,831,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cerity Partners LLC raised its holdings in Exelixis by 129.1% during the 3rd quarter. Cerity Partners LLC now owns 27,994 shares of the biotechnology company’s stock worth $726,000 after purchasing an additional 15,777 shares during the last quarter. Bank of Montreal Can increased its position in shares of Exelixis by 51.5% during the third quarter. Bank of Montreal Can now owns 104,385 shares of the biotechnology company’s stock worth $2,710,000 after buying an additional 35,496 shares during the period. FMR LLC raised its stake in Exelixis by 6.1% during the third quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock worth $63,891,000 after buying an additional 140,568 shares during the last quarter. Quantbot Technologies LP acquired a new position in Exelixis in the third quarter valued at $149,000. Finally, CreativeOne Wealth LLC acquired a new position in Exelixis in the third quarter valued at $203,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.80, for a total value of $388,000.00. Following the transaction, the executive vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Senner sold 29,314 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.14, for a total value of $1,059,407.96. Following the completion of the transaction, the chief financial officer now owns 779,607 shares in the company, valued at approximately $28,174,996.98. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,343 shares of company stock worth $5,177,234 in the last quarter. 2.85% of the stock is currently owned by company insiders.

Exelixis Price Performance

EXEL 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 company’s 50-day moving average is $35.80 and its 200 day moving average is $33.48. The firm has a market capitalization of $10.37 billion, a P/E ratio of 20.93, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. On average, equities research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EXEL shares. Truist Financial lifted their price objective on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Piper Sandler boosted their price target on Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised their price objective on shares of Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Oppenheimer downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $41.00 to $33.00 in a research report on Friday, January 24th. Finally, BMO Capital Markets cut shares of Exelixis from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $36.00 to $40.00 in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.59.

About Exelixis

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.