Seven Fleet Capital Management LP Invests $3 Million in Exelixis, Inc. $EXEL

Seven Fleet Capital Management LP bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the fourth quarter, Holdings Channel reports. The fund bought 68,569 shares of the biotechnology company’s stock, valued at approximately $3,005,000. Exelixis makes up approximately 2.3% of Seven Fleet Capital Management LP’s portfolio, making the stock its 6th largest holding.

Several other hedge funds also recently made changes to their positions in EXEL. Dimensional Fund Advisors LP raised its holdings in Exelixis by 11.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock valued at $172,658,000 after buying an additional 419,596 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Exelixis by 62.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 187,154 shares of the biotechnology company’s stock worth $8,224,000 after purchasing an additional 71,987 shares during the period. Elo Mutual Pension Insurance Co lifted its position in shares of Exelixis by 124.3% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 54,643 shares of the biotechnology company’s stock worth $2,257,000 after purchasing an additional 30,279 shares during the period. Private Client Services LLC bought a new stake in shares of Exelixis in the 4th quarter valued at $1,992,000. Finally, Hillsdale Investment Management Inc. boosted its stake in shares of Exelixis by 22.2% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 100,600 shares of the biotechnology company’s stock valued at $4,155,000 after purchasing an additional 18,300 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Insider Activity

In other news, Director George Poste sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $45.71, for a total value of $2,742,600.00. Following the transaction, the director owned 118,832 shares in the company, valued at $5,431,810.72. The trade was a 33.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maria C. Freire sold 20,634 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $46.00, for a total value of $949,164.00. Following the completion of the transaction, the director directly owned 100,819 shares in the company, valued at approximately $4,637,674. This represents a 16.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 219,170 shares of company stock worth $10,620,641. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

EXEL has been the subject of a number of analyst reports. Truist Financial raised shares of Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. TD Cowen upped their price target on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Zacks Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Barclays lifted their price objective on Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Finally, Stifel Nicolaus boosted their price objective on Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.35.

Exelixis Price Performance

EXEL opened at $51.91 on Friday. The firm has a market capitalization of $13.05 billion, a PE ratio of 17.25, a P/E/G ratio of 1.51 and a beta of 0.41. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $53.93. The company’s 50-day moving average is $48.66 and its 200 day moving average is $45.15.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.12. The company had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.Exelixis’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. As a group, analysts expect that Exelixis, Inc. will post 3.16 EPS for the current year.

Exelixis Company Profile

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.