Summit Global Investments Has $382,000 Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Summit Global Investments decreased its stake in Exelixis, Inc. (NASDAQ:EXEL) by 55.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,483 shares of the biotechnology company’s stock after selling 14,100 shares during the quarter. Summit Global Investments’ holdings in Exelixis were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Natixis Advisors LLC raised its position in shares of Exelixis by 26.2% in the 3rd quarter. Natixis Advisors LLC now owns 29,113 shares of the biotechnology company’s stock valued at $755,000 after acquiring an additional 6,051 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Exelixis in the third quarter valued at approximately $1,972,000. Advisors Asset Management Inc. raised its holdings in Exelixis by 3.2% in the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock worth $515,000 after purchasing an additional 609 shares during the period. Cerity Partners LLC boosted its position in shares of Exelixis by 129.1% during the third 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 in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Exelixis in the 3rd quarter valued at $591,000. Institutional investors own 85.27% of the company’s stock.

Insider Transactions at Exelixis

In other Exelixis news, Director Mary C. Beckerle sold 12,210 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $34.88, for a total transaction of $425,884.80. Following the completion of the sale, the director now owns 30,406 shares of the company’s stock, valued at $1,060,561.28. This trade represents a 28.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 52,636 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the transaction, the executive vice president now owns 303,310 shares in the company, valued at approximately $11,216,403.80. This represents a 14.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 140,343 shares of company stock worth $5,177,234. 2.85% of the stock is owned by company insiders.

Exelixis Trading Up 2.1 %

NASDAQ EXEL opened at $37.72 on Tuesday. The firm’s fifty day moving average price is $35.66 and its two-hundred day moving average price is $33.00. Exelixis, Inc. has a 1 year low of $20.14 and a 1 year high of $40.02. The firm has a market capitalization of $10.56 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last issued its earnings results 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 net margin of 24.04% and a return on equity of 23.52%. On average, research analysts anticipate that Exelixis, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EXEL. Bank of America downgraded Exelixis from a “buy” rating to a “neutral” rating and increased their price target for the stock from $35.00 to $39.00 in a report on Tuesday, December 17th. BMO Capital Markets cut Exelixis from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $36.00 to $40.00 in a research note on Friday, December 20th. UBS Group lifted their price target on shares of Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Citigroup increased their price objective on shares of Exelixis from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Barclays boosted their price objective on shares of Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. One 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 issued a strong buy rating to the company. According to data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus target price 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.