Insider Selling: Exelixis, Inc. (NASDAQ:EXEL) CFO Sells 100,000 Shares of Stock

Exelixis, Inc. (NASDAQ:EXEL) CFO Christopher J. Senner sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $46.00, for a total transaction of $4,600,000.00. Following the sale, the chief financial officer now directly owns 967,842 shares in the company, valued at approximately $44,520,732. The trade was a 9.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Exelixis Trading Down 1.9%

Shares of EXEL opened at $45.40 on Friday. The firm has a market capitalization 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 12-month low of $20.14 and a 12-month high of $48.85. The firm has a fifty day moving average price of $37.23 and a 200-day moving average price of $35.82.

Institutional Trading of Exelixis

A number of large investors have recently made changes to their positions in EXEL. Coppell Advisory Solutions LLC bought a new stake in shares of Exelixis in the fourth quarter valued at about $25,000. Hemington Wealth Management raised its holdings in Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 522 shares in the last quarter. Colonial Trust Co SC raised its holdings in Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 765 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Exelixis during the fourth quarter valued at about $32,000. Finally, Principal Securities Inc. increased its holdings in shares of 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 in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EXEL shares. StockNews.com downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a report on Thursday. UBS Group restated an “underperform” rating on shares of Exelixis in a research note on Thursday, April 17th. Guggenheim reiterated a “buy” rating and set a $42.00 price objective on shares of Exelixis in a research report on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of Exelixis in a report on Wednesday. Finally, Citigroup raised their target price on shares of Exelixis from $45.00 to $56.00 and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.