Mach 1 Financial Group LLC bought a new stake in Exelixis, Inc. (NASDAQ:EXEL – Free Report) during the fourth quarter, HoldingsChannel.com reports. The fund bought 14,235 shares of the biotechnology company’s stock, valued at approximately $624,000.
Other hedge funds also recently modified their holdings of the company. Fi3 FINANCIAL ADVISORS LLC purchased a new position in shares of Exelixis during the fourth quarter valued at approximately $208,000. Leonteq Securities AG purchased a new stake in Exelixis in the 4th quarter worth approximately $54,000. PSP Research LLC purchased a new stake in Exelixis in the 4th quarter worth approximately $524,000. Profund Advisors LLC raised its holdings in Exelixis by 13.4% in the 4th quarter. Profund Advisors LLC now owns 57,050 shares of the biotechnology company’s stock valued at $2,501,000 after acquiring an additional 6,739 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Exelixis by 7.4% during the 4th quarter. ProShare Advisors LLC now owns 22,592 shares of the biotechnology company’s stock worth $990,000 after purchasing an additional 1,551 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.
Exelixis Trading Down 0.5%
Shares of EXEL opened at $49.65 on Friday. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $51.63. The firm has a market capitalization of $12.48 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.06 and a beta of 0.38. The stock’s fifty day simple moving average is $44.93 and its 200 day simple moving average is $43.80.
Analyst Ratings Changes
A number of brokerages have recently commented on EXEL. Stifel Nicolaus lifted their price objective on Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Zacks Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Morgan Stanley lifted their price target on Exelixis from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. TD Cowen upped their price objective on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Exelixis has a consensus rating of “Hold” and a consensus price target of $47.35.
Get Our Latest Analysis on EXEL
Insider Buying and Selling at Exelixis
In other Exelixis news, SVP Brenda Hefti sold 6,625 shares of Exelixis stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $50.21, for a total transaction of $332,641.25. Following the transaction, the senior vice president directly owned 106,762 shares of the company’s stock, valued at $5,360,520.02. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary C. Beckerle sold 7,712 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $48.45, for a total transaction of $373,646.40. Following the sale, the director owned 17,524 shares of the company’s stock, valued at approximately $849,037.80. This represents a 30.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 177,790 shares of company stock worth $8,275,453. Company insiders own 2.60% of the company’s stock.
Exelixis Company Profile
Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.
The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.
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