Cambridge Investment Research Advisors Inc. Boosts Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Cambridge Investment Research Advisors Inc. boosted its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,092 shares of the biotechnology company's stock after purchasing an additional 15,183 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Exelixis were worth $3,105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Exelixis by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company's stock worth $979,994,000 after purchasing an additional 121,750 shares during the last quarter. LSV Asset Management grew its holdings in Exelixis by 0.8% during the fourth quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company's stock worth $272,056,000 after buying an additional 67,470 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Exelixis by 10.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,630,940 shares of the biotechnology company's stock valued at $254,110,000 after buying an additional 708,312 shares during the last quarter. Invesco Ltd. raised its position in Exelixis by 308.1% in the 4th quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company's stock valued at $132,376,000 after buying an additional 3,001,204 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Exelixis by 25.7% during the 4th quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company's stock valued at $132,101,000 after acquiring an additional 810,857 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Exelixis Stock Up 0.7%

EXEL traded up $0.29 on Wednesday, hitting $43.91. The company's stock had a trading volume of 807,225 shares, compared to its average volume of 2,452,881. The firm has a market cap of $11.97 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 0.88 and a beta of 0.28. Exelixis, Inc. has a 12 month low of $21.82 and a 12 month high of $49.62. The company's 50 day simple moving average is $41.38 and its 200-day simple moving average is $37.46.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Stifel Nicolaus increased their target price on shares of Exelixis from $36.00 to $38.00 and gave the company a "hold" rating in a report on Wednesday, May 14th. Truist Financial reaffirmed a "buy" rating and issued a $55.00 price objective (up from $43.00) on shares of Exelixis in a research report on Monday, June 23rd. Citigroup lifted their target price on shares of Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen downgraded Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company reaffirmed a "market outperform" rating on shares of Exelixis in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Exelixis currently has an average rating of "Moderate Buy" and a consensus price target of $43.56.

Insider Buying and Selling

In related news, CFO Christopher J. Senner sold 100,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $46.00, for a total value of $4,600,000.00. Following the sale, the chief financial officer owned 967,842 shares in the company, valued at approximately $44,520,732. This trade represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Amy C. Peterson sold 72,776 shares of Exelixis stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $45.47, for a total transaction of $3,309,124.72. Following the sale, the chief marketing officer owned 465,393 shares of the company's stock, valued at approximately $21,161,419.71. The trade was a 13.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 458,113 shares of company stock valued at $21,024,817 in the last three months. Insiders own 2.85% of the company's stock.

About Exelixis

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.