Voya Investment Management LLC Lowers Stock Position in Exelixis, Inc. $EXEL

Voya Investment Management LLC decreased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 49.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,095 shares of the biotechnology company’s stock after selling 174,679 shares during the period. Voya Investment Management LLC owned approximately 0.07% of Exelixis worth $7,438,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Truist Financial Corp boosted its stake in shares of Exelixis by 1.1% in the second quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company’s stock valued at $983,000 after buying an additional 250 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in Exelixis by 0.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock valued at $4,521,000 after acquiring an additional 274 shares during the period. Plato Investment Management Ltd boosted its position in shares of Exelixis by 6.5% during the 2nd quarter. Plato Investment Management Ltd now owns 6,174 shares of the biotechnology company’s stock worth $271,000 after purchasing an additional 377 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Exelixis by 6.3% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 6,726 shares of the biotechnology company’s stock worth $296,000 after purchasing an additional 399 shares during the period. Finally, Byrne Asset Management LLC grew its stake in shares of Exelixis by 129.0% during the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 400 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Price Performance

EXEL stock opened at $46.61 on Wednesday. The company’s 50 day simple moving average is $41.40 and its 200-day simple moving average is $40.84. Exelixis, Inc. has a 12 month low of $31.90 and a 12 month high of $49.62. The firm has a market capitalization of $12.50 billion, a PE ratio of 19.67, a P/E/G ratio of 0.83 and a beta of 0.40.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. The firm had revenue of $597.76 million for the quarter, compared to analyst estimates of $590.04 million. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.Exelixis’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. As a group, sell-side analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on EXEL shares. Morgan Stanley raised their price objective on shares of Exelixis from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a report on Wednesday, October 8th. Wolfe Research assumed coverage on shares of Exelixis in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Oppenheimer reissued a “market perform” rating and set a $36.00 price target on shares of Exelixis in a research note on Wednesday, November 5th. Finally, Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.74.

Insider Buying and Selling

In related news, Director Stelios Papadopoulos sold 100,000 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total transaction of $4,355,000.00. Following the sale, the director owned 1,189,228 shares of the company’s stock, valued at $51,790,879.40. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Haley sold 28,043 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $42.58, for a total transaction of $1,194,070.94. Following the completion of the transaction, the executive vice president directly owned 374,029 shares of the company’s stock, valued at $15,926,154.82. The trade was a 6.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 245,235 shares of company stock valued at $10,490,600 over the last three months. Insiders own 2.85% of the company’s stock.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.