Bank of New York Mellon Corp Grows Position in Exelixis, Inc. (NASDAQ:EXEL)

Bank of New York Mellon Corp lifted its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,476,857 shares of the biotechnology company's stock after purchasing an additional 15,239 shares during the quarter. Bank of New York Mellon Corp owned about 0.90% of Exelixis worth $91,446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Coppell Advisory Solutions LLC purchased a new position in Exelixis during the 4th quarter valued at $25,000. Colonial Trust Co SC raised its position in shares of Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 765 shares in the last quarter. Bartlett & CO. Wealth Management LLC bought a new position in shares of Exelixis in the 1st quarter worth $37,000. Crowley Wealth Management Inc. acquired a new position in Exelixis during the 4th quarter valued at about $50,000. Finally, Hurley Capital LLC acquired a new position in Exelixis during the 4th quarter valued at about $68,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Exelixis Trading Up 2.5%

Shares of NASDAQ EXEL opened at $45.17 on Friday. The stock has a market cap of $12.32 billion, a P/E ratio of 20.53, a PEG ratio of 0.88 and a beta of 0.28. Exelixis, Inc. has a 12-month low of $22.13 and a 12-month high of $49.62. The business's fifty day simple moving average is $42.32 and its 200-day simple moving average is $37.95.

Insiders Place Their Bets

In other Exelixis news, Director Sue Gail Eckhardt sold 18,838 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $42.74, for a total value of $805,136.12. Following the sale, the director directly owned 21,380 shares in the company, valued at $913,781.20. This trade represents a 46.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack L. Wyszomierski sold 7,535 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total value of $324,683.15. Following the completion of the sale, the director owned 358,882 shares in the company, valued at approximately $15,464,225.38. This represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 458,113 shares of company stock valued at $21,024,817. 2.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EXEL has been the topic of several research analyst reports. Stephens upgraded Exelixis from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $29.00 to $60.00 in a research note on Tuesday, June 24th. Bank of America upped their price target on Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. HC Wainwright upped their price target on Exelixis from $47.00 to $53.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Truist Financial reissued a "buy" rating and set a $55.00 target price (up previously from $43.00) on shares of Exelixis in a report on Monday, June 23rd. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $50.00 price target (up previously from $45.00) on shares of Exelixis in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $44.72.

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.

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