Exelixis, Inc. (NASDAQ:EXEL) Director George Poste Sells 20,634 Shares

Exelixis, Inc. (NASDAQ:EXEL) Director George Poste sold 20,634 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $45.99, for a total transaction of $948,957.66. Following the sale, the director now directly owns 169,020 shares of the company’s stock, valued at approximately $7,773,229.80. This represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $45.40 on Friday. The company has a market cap of $12.51 billion, a P/E ratio of 25.65, a P/E/G ratio of 1.13 and a beta of 0.25. Exelixis, Inc. has a 52-week low of $20.14 and a 52-week high of $48.85. The firm’s fifty day moving average is $37.23 and its two-hundred day moving average is $35.82.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. McIlrath & Eck LLC bought a new position in Exelixis during the first quarter valued at approximately $52,000. Empowered Funds LLC boosted its position in shares of Exelixis by 35.2% during the 1st quarter. Empowered Funds LLC now owns 302,603 shares of the biotechnology company’s stock valued at $11,172,000 after acquiring an additional 78,724 shares during the last quarter. Caxton Associates LLP bought a new stake in Exelixis in the first quarter worth $1,237,000. Fred Alger Management LLC raised its stake in Exelixis by 45.9% during the first quarter. Fred Alger Management LLC now owns 21,094 shares of the biotechnology company’s stock valued at $779,000 after purchasing an additional 6,641 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Exelixis by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock valued at $54,153,000 after purchasing an additional 68,133 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EXEL has been the subject of a number of recent research reports. 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. Wells Fargo & Company restated a “market outperform” rating on shares of Exelixis in a research report on Thursday, April 17th. Truist Financial lifted their price objective on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price objective on shares of Exelixis in a research note on Wednesday. Finally, StockNews.com cut shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.76.

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.