Concurrent Investment Advisors LLC Takes $457,000 Position in Exelixis, Inc. (NASDAQ:EXEL)

Concurrent Investment Advisors LLC purchased a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,382 shares of the biotechnology company's stock, valued at approximately $457,000.

A number of other hedge funds also recently made changes to their positions in EXEL. Steward Partners Investment Advisory LLC raised its holdings in shares of Exelixis by 4.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company's stock valued at $235,000 after buying an additional 330 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Exelixis during the fourth quarter worth approximately $706,000. Raymond James Financial Inc. bought a new stake in Exelixis during the fourth quarter worth approximately $17,046,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Exelixis by 5.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,447 shares of the biotechnology company's stock worth $2,113,000 after purchasing an additional 3,349 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in Exelixis during the fourth quarter worth approximately $2,728,000. Institutional investors own 85.27% of the company's stock.

Insider Activity

In other Exelixis news, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $46.18, for a total transaction of $1,154,500.00. Following the transaction, the executive vice president directly owned 693,396 shares in the company, valued at approximately $32,021,027.28. The trade was a 3.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 126,383 shares of Exelixis stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $47.96, for a total transaction of $6,061,328.68. Following the transaction, the executive vice president owned 446,459 shares in the company, valued at approximately $21,412,173.64. The trade was a 22.06% 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 worth $21,024,817. 2.82% of the stock is owned by corporate insiders.

Exelixis Stock Performance

NASDAQ EXEL opened at $45.17 on Friday. Exelixis, Inc. has a twelve month low of $22.13 and a twelve month high of $49.62. The stock has a market cap of $12.32 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 0.88 and a beta of 0.28. The firm's 50 day moving average price is $42.32 and its two-hundred day moving average price is $37.95.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EXEL. Stifel Nicolaus boosted their target price on Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a report on Wednesday, May 14th. Benchmark reissued a "neutral" rating on shares of Exelixis in a report on Monday, June 23rd. HC Wainwright boosted their target price on Exelixis from $47.00 to $53.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Citigroup boosted their target price on Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, JMP Securities boosted their target price on Exelixis from $47.00 to $50.00 and gave the stock a "market outperform" rating in a report on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $44.72.

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.

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