Signition LP Sells 7,421 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Signition LP trimmed its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 8.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,120 shares of the biotechnology company’s stock after selling 7,421 shares during the quarter. Signition LP’s holdings in Exelixis were worth $1,798,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of EXEL. Financial Gravity Wealth Inc. raised its holdings in Exelixis by 120,100.0% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 1,202 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 1,201 shares during the period. Icon Wealth Partners LLC purchased a new stake in Exelixis in the first quarter worth $27,000. Bessemer Group Inc. purchased a new stake in Exelixis in the second quarter worth $28,000. Ibex Wealth Advisors purchased a new stake in Exelixis in the second quarter worth $43,000. Finally, Signaturefd LLC increased its stake in Exelixis by 999.5% in the second quarter. Signaturefd LLC now owns 2,287 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 2,079 shares during the period. Institutional investors and hedge funds own 76.79% of the company’s stock.

EXEL stock traded down $0.58 during trading on Friday, reaching $20.04. 69,470 shares of the company traded hands, compared to its average volume of 2,858,260. Exelixis, Inc. has a 12 month low of $13.42 and a 12 month high of $25.31. The business has a 50 day simple moving average of $20.93 and a 200 day simple moving average of $21.49. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 13.97 and a beta of 1.98. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.53 and a current ratio of 8.64.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Exelixis had a return on equity of 31.31% and a net margin of 70.52%. The company had revenue of $240.28 million for the quarter, compared to the consensus estimate of $226.97 million. During the same quarter last year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 29.1% compared to the same quarter last year. As a group, research analysts forecast that Exelixis, Inc. will post 0.89 EPS for the current year.

A number of research firms have recently issued reports on EXEL. BidaskClub raised Exelixis from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. ValuEngine downgraded Exelixis from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, August 6th. Morgan Stanley set a $27.00 price target on Exelixis and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Finally, Stifel Nicolaus increased their price target on Exelixis from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $27.75.

In other Exelixis news, Director George Poste sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $20.60, for a total value of $412,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Morrissey sold 35,040 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $20.25, for a total value of $709,560.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 652,522 shares of company stock worth $13,461,761. 4.50% of the stock is owned by corporate insiders.

Exelixis Company Profile

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.

Recommended Story: Does a trade war provide a risk to the global economy?

Want to see what other hedge funds are holding EXEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelixis, Inc. (NASDAQ:EXEL).

Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.