5 Best Stocks Under $20 According to Jim Simons’ Fund

2. Exelixis, Inc. (NASDAQ:EXEL)

Renaissance Technologies’ Stake Value: $370,954,000

Percentage of Renaissance Technologies’ 13F Portfolio: 0.47%

Number of Hedge Fund Holders: 30

Share Price as of December 7: $16.62

Exelixis, Inc. (NASDAQ:EXEL) is a California-based drug discovery company employing genomics technology to conduct clinical trials for cancer treatments. Reducing its stake in Exelixis, Inc. (NASDAQ:EXEL) by 3% in the third quarter, Renaissance Technologies holds 17.54 million shares in Exelixis, Inc. (NASDAQ:EXEL), worth approximately $371 million, with the stock accounting for 0.47% of the hedge fund’s total portfolio. 

On November 2, Exelixis, Inc. (NASDAQ:EXEL) posted its Q3 results. EPS in the quarter came in at $0.20, missing estimates by -$0.07. The $328.42 million revenue was up 42.12% year-over-year, but missed estimates by $28.64 million. 

Piper Sandler analyst Do Kim on November 18 assumed coverage of Exelixis, Inc. (NASDAQ:EXEL) with an Overweight rating and a $34 price target, down from $36, stating that the company’s products had potential to grow revenues despite ongoing patent litigation. 

Farallon Capital is one of the largest Exelixis, Inc. (NASDAQ:EXEL) stakeholders as of Q3 2021, with 9.65 million shares valued at $204.2 million. Overall, 30 hedge funds in the Q3 database of Insider Monkey were bullish on Exelixis, Inc. (NASDAQ:EXEL), down from 33 funds in the preceding quarter.