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

Bank of New York Mellon Corp boosted its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 quarter.

Several other hedge funds have also bought and sold shares of EXEL. Steward Partners Investment Advisory LLC grew its position in Exelixis by 4.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company's stock valued at $235,000 after purchasing an additional 330 shares during the period. Proficio Capital Partners LLC acquired a new stake in Exelixis in the 4th quarter valued at $706,000. Raymond James Financial Inc. bought a new position in Exelixis during the 4th quarter valued at $17,046,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Exelixis by 5.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,447 shares of the biotechnology company's stock valued at $2,113,000 after acquiring an additional 3,349 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in Exelixis during the 4th quarter valued at $2,728,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Ratings Changes

EXEL has been the topic of several recent analyst reports. Stifel Nicolaus raised their price objective on Exelixis from $36.00 to $38.00 and gave the company a "hold" rating in a research note on Wednesday, May 14th. Barclays raised their price objective on Exelixis from $29.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday. Bank of America lifted their target price on Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. UBS Group lifted their target price on Exelixis from $38.00 to $43.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $50.00 target price (up from $45.00) on shares of Exelixis in a research note on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.22.

Exelixis Stock Up 1.6%

NASDAQ:EXEL traded up $0.72 during mid-day trading on Monday, hitting $45.58. 1,748,367 shares of the stock traded hands, compared to its average volume of 2,523,244. The business's 50-day moving average price is $42.42 and its 200 day moving average price is $38.08. The company has a market cap of $12.43 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 0.90 and a beta of 0.28. Exelixis, Inc. has a 12-month low of $22.20 and a 12-month high of $49.62.

Insider Buying and Selling

In other news, Director Jack L. Wyszomierski sold 7,535 shares of the company'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 of the company's stock, valued at approximately $15,464,225.38. This represents a 2.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tomas J. Heyman sold 4,544 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $44.29, for a total transaction of $201,253.76. Following the completion of the sale, the director directly owned 32,470 shares of the company's stock, valued at $1,438,096.30. This trade represents a 12.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 458,113 shares of company stock worth $21,024,817 in the last ninety days. 2.85% of the stock is currently owned by insiders.

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.