JLB & Associates Inc. bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 48,849 shares of the biotechnology company’s stock, valued at approximately $2,658,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Exelixis by 81.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock worth $1,592,000 after buying an additional 19,407 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Exelixis by 4.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock valued at $54,153,000 after acquiring an additional 68,133 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Exelixis by 83.4% during the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock valued at $1,420,000 after acquiring an additional 17,483 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Exelixis by 134.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 944 shares during the period. Finally, Sivia Capital Partners LLC grew its holdings in shares of Exelixis by 23.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock worth $633,000 after purchasing an additional 2,764 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.
Exelixis Trading Up 1.5%
Shares of NASDAQ EXEL opened at $53.12 on Wednesday. The company has a market cap of $13.16 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.53 and a beta of 0.44. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $57.57. The stock has a 50-day moving average price of $54.20 and a two-hundred day moving average price of $48.35.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Weiss Ratings upgraded Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. TD Cowen upped their price objective on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Barclays increased their price objective on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Wall Street Zen cut shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Truist Financial dropped their target price on shares of Exelixis from $56.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Exelixis currently has an average rating of “Hold” and an average target price of $50.07.
Get Our Latest Stock Report on Exelixis
Insider Activity at Exelixis
In related news, Director Sue Gail Eckhardt sold 9,812 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the completion of the transaction, the director owned 16,079 shares of the company’s stock, valued at $806,201.06. This represents a 37.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack L. Wyszomierski sold 3,925 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.55, for a total transaction of $198,408.75. Following the sale, the director directly owned 284,384 shares in the company, valued at approximately $14,375,611.20. The trade was a 1.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 67,000 shares of company stock valued at $3,404,652 in the last quarter. 2.60% of the stock is owned by company insiders.
About Exelixis
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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