Signaturefd LLC Associated with Growth in Exelixis, Inc. Stake

October 28, 2024 04:31 AM PDT | By Team Kalkine Media

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Signaturefd LLC Associated with Growth in Exelixis, Inc. Stake — Image source: Shutterstock

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Highlights

Signaturefd LLC increased its holdings in Exelixis, Inc. by 12.2% in the third quarter, reflecting growing confidence in the biotechnology sector.

Institutional ownership of Exelixis remains robust, with 85.27% of shares held by large investors and hedge funds.

Analyst sentiment is generally positive, with several firms issuing "buy" ratings and raising price targets for Exelixis stock.

Signaturefd LLC has raised its holdings in Exelixis, Inc. (NASDAQ:EXEL) by 12.2% during the third quarter, according to a recent filing with the Securities and Exchange Commission. Following the acquisition of an additional 666 shares, the firm now owns 6,138 shares of the biotechnology company, valued at approximately $159,000.

Other institutional investors have also been actively adjusting their stakes in Exelixis. V Square Quantitative Management LLC entered a new position in the company, acquiring shares valued at around $30,000. Additionally, Park Place Capital Corp and GAMMA Investing LLC have made significant investments, with GAMMA increasing its stake by 107.9%. Overall, institutional investors and hedge funds collectively own 85.27% of Exelixis's stock, demonstrating strong market confidence.

Insider trading activity has also been notable, particularly from CFO Christopher J. Senner, who sold 125,000 shares at an average price of $27.19. Following this transaction, he retains a substantial holding of 721,680 shares, valued at approximately $19.6 million. Over the past quarter, insiders have sold a total of 327,858 shares, representing about 2.85% of the company's stock.

Analysts have expressed optimism regarding Exelixis, with several firms upgrading their ratings and price targets. Bank of America raised its price target to $32, while HC Wainwright and JMP Securities maintained "buy" ratings with targets of $29. Overall, the consensus rating for Exelixis is classified as "Moderate Buy," with an average price target of $29.57.

Exelixis recently reported strong quarterly earnings, exceeding analysts' expectations with an earnings per share (EPS) of $0.75 and revenues of $637.18 million. The company's focus on developing treatments for challenging cancers positions it favorably in the oncology market.

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