First Trust Advisors LP raised its position in Exelixis, Inc. (NASDAQ:EXEL – Free Report) by 62.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,534,992 shares of the biotechnology company’s stock after purchasing an additional 970,144 shares during the period. First Trust Advisors LP’s holdings in Exelixis were worth $108,726,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its stake in Exelixis by 48.8% in the fourth quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after buying an additional 4,477,029 shares in the last quarter. Invesco Ltd. boosted its position in shares of Exelixis by 1.6% during the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock worth $265,379,000 after acquiring an additional 94,218 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Exelixis by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock worth $184,391,000 after acquiring an additional 39,920 shares in the last quarter. Morgan Stanley increased its holdings in shares of Exelixis by 31.0% in the 4th quarter. Morgan Stanley now owns 4,206,656 shares of the biotechnology company’s stock valued at $184,378,000 after acquiring an additional 995,949 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Exelixis by 40.2% during the 4th quarter. UBS Group AG now owns 3,722,334 shares of the biotechnology company’s stock worth $163,150,000 after acquiring an additional 1,067,265 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.
Exelixis Trading Up 1.2%
Shares of EXEL stock opened at $55.65 on Friday. The business’s 50 day moving average is $53.06 and its two-hundred day moving average is $47.13. Exelixis, Inc. has a twelve month low of $33.76 and a twelve month high of $57.57. The company has a market capitalization of $13.99 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.58 and a beta of 0.42.
Insider Buying and Selling
In other Exelixis news, EVP Patrick J. Haley sold 32,110 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total value of $1,599,399.10. Following the transaction, the executive vice president directly owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. The trade was a 8.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 43,451 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 594,741 shares of the company’s stock, valued at approximately $29,945,209.35. The trade was a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 219,170 shares of company stock worth $10,620,641 in the last ninety days. Insiders own 2.60% of the company’s stock.
Wall Street Analysts Forecast Growth
EXEL has been the subject of several recent analyst reports. Barclays boosted their target price on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Citigroup reissued a “market outperform” rating on shares of Exelixis in a report on Wednesday. Morgan Stanley boosted their price objective on shares of Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday. Weiss Ratings raised shares of Exelixis from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, July 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $56.00 price target on shares of Exelixis in a research note on Thursday, July 2nd. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $49.00.
Get Our Latest Research Report on EXEL
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.
Read More
- Five stocks we like better than Exelixis
- Premium Retail’s Stress Test Is Separating Winners From Losers
- D-Wave Quantum or a Quantum ETF: Which Is the Better Bet?
- GE Vernova Just Sent a Mixed AI Signal to Investors
- Alphabet Crushed Earnings, But One Number Spooked the Market
Want to see what other hedge funds are holding EXEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelixis, Inc. (NASDAQ:EXEL – Free Report).
Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.
