Nuveen Asset Management LLC Sells 313,356 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Nuveen Asset Management LLC lessened its position in Exelixis, Inc. (NASDAQ:EXEL – Get Rating) by 27.3% in the 3rd quarter, Holdings Channel reports. The firm owned 834,883 shares of the biotechnology company’s stock after selling 313,356 shares during the period. Nuveen Asset Management LLC’s holdings in Exelixis were worth $13,091,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of EXEL. Signaturefd LLC increased its stake in Exelixis by 400.7% in the third quarter. Signaturefd LLC now owns 2,148 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 1,719 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Exelixis by 245.6% in the first quarter. Covestor Ltd now owns 1,676 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 1,191 shares during the period. Wipfli Financial Advisors LLC acquired a new position in shares of Exelixis in the third quarter valued at approximately $46,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Exelixis in the third quarter valued at approximately $47,000. Finally, Twin Tree Management LP acquired a new position in shares of Exelixis in the third quarter valued at approximately $61,000. Institutional investors own 84.74% of the company’s stock.

Insider Buying and Selling

In other Exelixis news, EVP Jeffrey Hessekiel sold 77,860 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $17.13, for a total value of $1,333,741.80. Following the transaction, the executive vice president now directly owns 527,716 shares of the company’s stock, valued at approximately $9,039,775.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Exelixis news, Director Carl B. Feldbaum sold 40,000 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $17.78, for a total value of $711,200.00. Following the transaction, the director now directly owns 18,701 shares of the company’s stock, valued at approximately $332,503.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffrey Hessekiel sold 77,860 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $17.13, for a total transaction of $1,333,741.80. Following the completion of the transaction, the executive vice president now directly owns 527,716 shares in the company, valued at $9,039,775.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,870 shares of company stock valued at $3,496,567. 2.90% of the stock is owned by company insiders.

Exelixis Stock Performance

NASDAQ:EXEL opened at $16.48 on Wednesday. Exelixis, Inc. has a 52 week low of $14.87 and a 52 week high of $23.40. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 28.91, a P/E/G ratio of 0.69 and a beta of 0.69. The firm’s 50-day simple moving average is $17.07 and its 200 day simple moving average is $16.82.

Exelixis (NASDAQ:EXEL – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). Exelixis had a return on equity of 7.54% and a net margin of 11.31%. The business had revenue of $423.92 million for the quarter, compared to the consensus estimate of $418.71 million. During the same period in the prior year, the business posted $0.29 earnings per share. Exelixis’s revenue was down 6.0% compared to the same quarter last year. Sell-side analysts anticipate that Exelixis, Inc. will post 0.68 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on EXEL. JMP Securities reduced their price target on shares of Exelixis from $25.00 to $24.00 and set a “market outperform” rating for the company in a report on Thursday, January 19th. EF Hutton Acquisition Co. I reiterated a “buy” rating and issued a $24.00 price target on shares of Exelixis in a report on Friday, March 3rd. Truist Financial reduced their target price on shares of Exelixis from $35.00 to $32.00 in a report on Friday, December 9th. Piper Sandler restated an “overweight” rating and set a $32.00 target price on shares of Exelixis in a report on Wednesday, February 8th. Finally, StockNews.com upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a report on Friday, February 24th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.27.

About Exelixis

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Exelixis, Inc operates as an oncology company, which focuses on discovering, developing, and commercialization of new medicines for difficult-to-treat cancers. Its products include cabometyx, cometriq, and cotellic. The company was founded by Stelios Papadopoulos on November 15, 1994, and is headquartered in Alameda, CA.