Banque Pictet & Cie SA Makes New $537,000 Investment in Exelixis, Inc. (NASDAQ:EXEL)

Banque Pictet & Cie SA bought a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,546 shares of the biotechnology company's stock, valued at approximately $537,000.

Several other hedge funds also recently modified their holdings of EXEL. GAMMA Investing LLC lifted its holdings in Exelixis by 32.2% in the first quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock valued at $201,000 after buying an additional 1,328 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Exelixis during the 4th quarter valued at $17,046,000. Wells Fargo & Company MN lifted its stake in shares of Exelixis by 1,637.9% in the 4th quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company's stock valued at $24,851,000 after purchasing an additional 703,343 shares during the period. Park Avenue Securities LLC lifted its stake in shares of Exelixis by 10.6% in the 1st quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company's stock valued at $272,000 after purchasing an additional 707 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Exelixis by 16.1% in the 4th quarter. HighTower Advisors LLC now owns 75,119 shares of the biotechnology company's stock worth $2,501,000 after purchasing an additional 10,391 shares during the last quarter. Institutional investors own 85.27% of the company's stock.

Insiders Place Their Bets

In other Exelixis news, Director Sue Gail Eckhardt sold 18,838 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $42.74, for a total transaction of $805,136.12. Following the sale, the director directly owned 21,380 shares of the company's stock, valued at $913,781.20. The trade was a 46.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Tomas J. Heyman sold 4,544 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $44.29, for a total value of $201,253.76. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 458,113 shares of company stock valued at $21,024,817 over the last 90 days. 2.82% of the stock is currently owned by company insiders.

Exelixis Price Performance

Shares of Exelixis stock opened at $45.17 on Friday. The firm has a market cap of $12.32 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 0.88 and a beta of 0.28. The stock's 50-day moving average is $42.32 and its 200-day moving average is $37.95. Exelixis, Inc. has a one year low of $22.13 and a one year high of $49.62.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EXEL. Citigroup upped their price objective on Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Truist Financial reaffirmed a "buy" rating and issued a $55.00 price target (up from $43.00) on shares of Exelixis in a research note on Monday, June 23rd. Stifel Nicolaus increased their price target on shares of Exelixis from $36.00 to $38.00 and gave the company a "hold" rating in a research report on Wednesday, May 14th. HC Wainwright boosted their price objective on shares of Exelixis from $47.00 to $53.00 and gave the company a "buy" rating in a report on Monday, June 30th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $47.00 target price (up previously from $40.00) on shares of Exelixis in a research note on Wednesday, May 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently 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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