Strategic Global Advisors LLC Increases Position in Exelixis, Inc. (NASDAQ:EXEL)

Strategic Global Advisors LLC raised its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 4.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 96,831 shares of the biotechnology company’s stock after buying an additional 3,795 shares during the period. Strategic Global Advisors LLC’s holdings in Exelixis were worth $3,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its stake in Exelixis by 134.7% during the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock worth $476,000 after acquiring an additional 8,208 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Exelixis during the fourth quarter worth about $17,046,000. Allspring Global Investments Holdings LLC increased its stake in Exelixis by 82.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after purchasing an additional 704,786 shares during the period. Inspire Investing LLC lifted its position in shares of Exelixis by 25.0% during the fourth quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company’s stock worth $1,221,000 after purchasing an additional 7,331 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Exelixis by 4.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 505,289 shares of the biotechnology company’s stock worth $16,826,000 after purchasing an additional 22,225 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EXEL shares. UBS Group restated an “underperform” rating on shares of Exelixis in a report on Thursday, April 17th. Truist Financial raised their price target on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company reaffirmed a “market outperform” rating on shares of Exelixis in a research report on Thursday, April 17th. JMP Securities reiterated a “market outperform” rating and issued a $41.00 price objective on shares of Exelixis in a research note on Thursday, April 17th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $47.00 target price (up from $40.00) on shares of Exelixis in a report on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Exelixis currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.76.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 52,636 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the transaction, the executive vice president now owns 303,310 shares in the company, valued at $11,216,403.80. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Senner sold 29,314 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $36.14, for a total value of $1,059,407.96. Following the transaction, the chief financial officer now directly owns 779,607 shares in the company, valued at approximately $28,174,996.98. The trade was a 3.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 520,942 shares of company stock worth $22,930,002 over the last three months. Insiders own 2.82% of the company’s stock.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $45.40 on Friday. The stock’s 50-day simple moving average is $37.23 and its 200-day simple moving average is $35.82. The firm has a market capitalization of $12.51 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.13 and a beta of 0.25. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $48.85.

Exelixis Profile

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.