Strategic Investment Advisors MI Buys New Stake in Exelixis, Inc. (NASDAQ:EXEL)

Strategic Investment Advisors MI bought a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,096 shares of the biotechnology company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Exelixis by 6.1% during the first quarter. Farther Finance Advisors LLC now owns 5,372 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 307 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in Exelixis by 1.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company’s stock valued at $573,000 after acquiring an additional 317 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Exelixis by 4.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock valued at $235,000 after acquiring an additional 330 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Exelixis by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 58,159 shares of the biotechnology company’s stock valued at $1,937,000 after acquiring an additional 354 shares during the last quarter. Finally, Principal Securities Inc. lifted its position in Exelixis by 62.8% during the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Dana Aftab sold 1,508 shares of Exelixis stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $39.00, for a total value of $58,812.00. Following the completion of the transaction, the executive vice president now owns 693,181 shares of the company’s stock, valued at approximately $27,034,059. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $46.18, for a total transaction of $1,154,500.00. Following the completion of the transaction, the executive vice president now directly owns 693,396 shares of the company’s stock, valued at $32,021,027.28. The trade was a 3.48% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 458,113 shares of company stock valued at $21,024,817. Corporate insiders own 2.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup upped their price target on shares of Exelixis from $45.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Bank of America upped their price target on shares of Exelixis from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, June 5th. JMP Securities upped their price target on shares of Exelixis from $47.00 to $50.00 and gave the company a “market outperform” rating in a research note on Monday. Royal Bank Of Canada restated an “outperform” rating and set a $40.00 price target on shares of Exelixis in a research note on Wednesday, May 14th. Finally, Morgan Stanley restated an “overweight” rating and set a $47.00 price target (up previously from $40.00) on shares of Exelixis in a research note on Wednesday, May 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and a consensus price target of $42.82.

Exelixis Price Performance

NASDAQ:EXEL opened at $43.53 on Thursday. The firm has a market capitalization of $11.87 billion, a P/E ratio of 19.79, a PEG ratio of 0.92 and a beta of 0.28. Exelixis, Inc. has a 1-year low of $21.82 and a 1-year high of $49.62. The company’s fifty day moving average price is $40.78 and its 200-day moving average price is $37.21.

Exelixis Company 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.