CreativeOne Wealth Increases Exelixis Stake by 70.6% in Q2

CreativeOne Wealth LLC has significantly increased its investment in Exelixis, Inc. by acquiring an additional 5,630 shares during the second quarter of 2023. This move has boosted the firm’s holdings in the biotechnology company by 70.6%, bringing its total to 13,607 shares. As of the latest filing with the Securities and Exchange Commission, CreativeOne’s stake in Exelixis is valued at approximately $600,000.

Other institutional investors have also adjusted their positions in Exelixis (NASDAQ:EXEL) recently. Byrne Asset Management LLC has raised its holdings by 129.0%, now owning 710 shares valued at about $31,000 after acquiring an additional 400 shares. Family Legacy Financial Solutions LLC entered a new position during the same period, investing approximately $33,000.

Hemington Wealth Management expanded its investment by 211.3% in the first quarter, holding 769 shares worth around $28,000 following a purchase of 522 shares. Additionally, Steph & Co. and Costello Asset Management INC also bought new stakes valued at $44,000 and $39,000, respectively. Currently, institutional investors own 85.27% of Exelixis stock.

Insider Trading Activity

In related news, Exelixis Director Stelios Papadopoulos sold 100,000 shares on November 12, 2023, at an average price of $43.55. This transaction amounted to $4,355,000, reducing his ownership by 7.76%. Following this sale, Papadopoulos retains 1,189,228 shares valued at approximately $51.79 million.

Another director, Mary C. Beckerle, sold 24,622 shares on November 11, 2023, for a total of $1,032,400.46. After this transaction, Beckerle holds 21,380 shares, valued at about $896,463.40, reflecting a 53.52% decline in her ownership. Over the last three months, insiders have sold a total of 245,235 shares worth approximately $10.49 million. Company insiders now own 2.82% of Exelixis.

Exelixis Financial Performance

Exelixis, Inc. has experienced fluctuations in its stock value recently, opening at $44.12 on Friday. The company boasts a market capitalization of $11.83 billion and a price-to-earnings ratio of 21.21. Its performance metrics are noteworthy, with a return on equity of 27.47% and a net margin of 27.01%.

In its latest quarterly earnings report published on November 4, 2023, Exelixis reported earnings per share (EPS) of $0.78, surpassing analysts’ expectations of $0.68 by $0.10. The company’s revenue reached $597.76 million for the quarter, compared to estimates of $590.04 million, marking a year-over-year increase of 10.8%.

Looking ahead, Exelixis has set its fiscal year 2025 guidance at an expected EPS of $2.04. The company specializes in discovering, developing, and commercializing new treatments for challenging cancers, notably offering CABOMETYX tablets for advanced renal cell carcinoma and COMETRIQ capsules for metastatic medullary thyroid cancer.

For ongoing updates and insights into Exelixis and related financial activities, investors can monitor official filings and reports through platforms like HoldingsChannel.com.