Allianz Asset Management GmbH Purchases 423,723 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Allianz Asset Management GmbH increased its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 442.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 519,408 shares of the biotechnology company's stock after acquiring an additional 423,723 shares during the period. Allianz Asset Management GmbH owned about 0.19% of Exelixis worth $19,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Coppell Advisory Solutions LLC acquired a new stake in shares of Exelixis during the 4th quarter worth approximately $25,000. Colonial Trust Co SC lifted its stake in Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after purchasing an additional 765 shares during the last quarter. Bartlett & CO. Wealth Management LLC bought a new position in Exelixis in the 1st quarter valued at approximately $37,000. Hurley Capital LLC bought a new position in Exelixis in the 4th quarter valued at approximately $68,000. Finally, True Wealth Design LLC lifted its stake in Exelixis by 222.3% in the 4th quarter. True Wealth Design LLC now owns 2,253 shares of the biotechnology company's stock valued at $75,000 after purchasing an additional 1,554 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Trading Down 2.5%

Shares of NASDAQ EXEL traded down $1.16 during midday trading on Monday, hitting $44.44. The company's stock had a trading volume of 1,442,737 shares, compared to its average volume of 2,917,193. The stock has a fifty day moving average price of $43.46 and a 200 day moving average price of $38.85. Exelixis, Inc. has a one year low of $22.96 and a one year high of $49.62. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 0.91 and a beta of 0.28.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup increased their price objective on shares of Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. JMP Securities increased their price objective on shares of Exelixis from $47.00 to $50.00 and gave the company a "market outperform" rating in a research note on Monday, June 23rd. Truist Financial set a $56.00 price objective on shares of Exelixis and gave the company a "buy" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $50.00 price target (up previously from $45.00) on shares of Exelixis in a research note on Tuesday, July 8th. Finally, Bank of America raised their price target on shares of Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $45.33.

Insider Buying and Selling

In other news, Director Tomas J. Heyman sold 4,544 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $44.29, for a total value of $201,253.76. Following the sale, the director owned 32,470 shares of the company's stock, valued at $1,438,096.30. The trade was a 12.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack L. Wyszomierski sold 7,535 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total transaction of $324,683.15. Following the completion of the sale, the director directly owned 358,882 shares in the company, valued at approximately $15,464,225.38. This trade represents a 2.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 458,113 shares of company stock valued at $21,024,817. Corporate insiders own 2.85% of the company's stock.

Exelixis Profile

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.