19,501 Shares in Exelixis, Inc. (NASDAQ:EXEL) Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. bought a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 19,501 shares of the biotechnology company's stock, valued at approximately $720,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sawgrass Asset Management LLC purchased a new position in Exelixis in the 1st quarter valued at $8,191,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Exelixis in the 1st quarter worth $233,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Exelixis by 22.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 84,092 shares of the biotechnology company's stock worth $3,105,000 after acquiring an additional 15,183 shares during the period. Blue Trust Inc. raised its holdings in Exelixis by 15.5% during the first quarter. Blue Trust Inc. now owns 12,976 shares of the biotechnology company's stock worth $479,000 after purchasing an additional 1,745 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its holdings in Exelixis by 33.4% during the first quarter. CWA Asset Management Group LLC now owns 36,281 shares of the biotechnology company's stock worth $1,339,000 after purchasing an additional 9,080 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Price Performance

NASDAQ:EXEL traded down $0.46 during trading hours on Tuesday, reaching $43.62. 3,367,426 shares of the company were exchanged, compared to its average volume of 2,454,715. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 0.88 and a beta of 0.28. The stock has a 50 day simple moving average of $41.24 and a 200 day simple moving average of $37.42. Exelixis, Inc. has a 52-week low of $21.82 and a 52-week high of $49.62.

Insiders Place Their Bets

In other news, Director Stelios Papadopoulos sold 36,508 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $44.35, for a total value of $1,619,129.80. Following the transaction, the director owned 1,279,416 shares of the company's stock, valued at approximately $56,742,099.60. This trade represents a 2.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Senner sold 100,000 shares of Exelixis stock in a transaction on 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 transaction, the chief financial officer owned 967,842 shares in the company, valued at $44,520,732. The trade was a 9.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 458,113 shares of company stock worth $21,024,817. Corporate insiders own 2.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on EXEL shares. Wall Street Zen cut Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Jefferies Financial Group set a $50.00 price target on Exelixis and gave the company a "buy" rating in a research note on Tuesday, June 24th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $40.00 price objective on shares of Exelixis in a research report on Wednesday, May 14th. Citigroup raised their target price on Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Benchmark reaffirmed a "neutral" rating on shares of Exelixis in a research note on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.56.

Exelixis Company 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.