Prudential PLC cut its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL – Free Report) by 13.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 84,868 shares of the biotechnology company’s stock after selling 13,585 shares during the period. Prudential PLC’s holdings in Exelixis were worth $3,720,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Farallon Capital Management LLC grew its position in shares of Exelixis by 21.6% during the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock valued at $805,412,000 after acquiring an additional 3,466,000 shares during the period. AQR Capital Management LLC grew its position in shares of Exelixis by 20.7% during the 3rd quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock valued at $379,190,000 after acquiring an additional 1,575,280 shares during the period. Invesco Ltd. grew its position in shares of Exelixis by 7.1% during the 3rd quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company’s stock valued at $246,170,000 after acquiring an additional 394,897 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Exelixis by 11.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock valued at $172,658,000 after acquiring an additional 419,596 shares during the period. Finally, UBS Group AG lifted its stake in Exelixis by 40.2% in the 4th quarter. UBS Group AG now owns 3,722,334 shares of the biotechnology company’s stock valued at $163,150,000 after buying an additional 1,067,265 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.
Exelixis Trading Up 0.4%
Shares of Exelixis stock opened at $52.70 on Friday. The firm’s 50-day moving average price is $46.96 and its 200 day moving average price is $44.53. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $52.98. The firm has a market capitalization of $13.25 billion, a PE ratio of 17.51, a P/E/G ratio of 1.52 and a beta of 0.41.
Insiders Place Their Bets
In other Exelixis news, Director Maria C. Freire sold 20,634 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $46.00, for a total value of $949,164.00. Following the transaction, the director directly owned 100,819 shares of the company’s stock, valued at $4,637,674. This trade represents a 16.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dana Aftab sold 43,451 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the completion of the transaction, the executive vice president directly owned 594,741 shares in the company, valued at $29,945,209.35. This trade represents a 6.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 219,170 shares of company stock worth $10,620,641. 2.60% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of brokerages recently weighed in on EXEL. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research note on Tuesday, May 19th. HC Wainwright raised their price target on shares of Exelixis from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Barclays raised their price target on shares of Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Truist Financial raised shares of Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Finally, Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.35.
Get Our Latest Research Report on Exelixis
Exelixis 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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