12,382 Shares in Exelixis, Inc. (NASDAQ:EXEL) Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 12,382 shares of the biotechnology company's stock, valued at approximately $457,000.

A number of other institutional investors and hedge funds have also made changes to their positions in EXEL. Vanguard Group Inc. increased its stake in Exelixis by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company's stock valued at $979,994,000 after purchasing an additional 121,750 shares during the last quarter. LSV Asset Management increased its position in shares of 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 purchasing an additional 67,470 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of 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 purchasing an additional 708,312 shares during the last quarter. Invesco Ltd. boosted its position in shares of 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 purchasing an additional 3,001,204 shares during the period. Finally, AQR Capital Management LLC grew 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 worth $132,101,000 after buying an additional 810,857 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EXEL has been the subject of a number of research reports. Stephens upgraded Exelixis from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $29.00 to $60.00 in a research note on Tuesday, June 24th. HC Wainwright lifted their price objective on shares of Exelixis from $47.00 to $53.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Truist Financial reaffirmed a "buy" rating and issued a $55.00 target price (up from $43.00) on shares of Exelixis in a report on Monday, June 23rd. Barclays raised their price target on Exelixis from $29.00 to $40.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Jefferies Financial Group set a $50.00 price target on Exelixis and gave the company a "buy" rating in a research report on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $44.72.

Exelixis Price Performance

EXEL traded down $0.31 during trading on Friday, reaching $44.86. 2,063,340 shares of the stock were exchanged, compared to its average volume of 2,521,006. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 0.91 and a beta of 0.28. Exelixis, Inc. has a 1 year low of $22.20 and a 1 year high of $49.62. The business's 50 day moving average price is $42.32 and its two-hundred day moving average price is $37.95.

Insider Buying and Selling at Exelixis

In related news, Director Sue Gail Eckhardt sold 18,838 shares of the firm's stock in a transaction that occurred on 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 owned 21,380 shares in the company, valued at approximately $913,781.20. This trade represents a 46.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 34,387 shares of Exelixis stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $44.06, for a total transaction of $1,515,091.22. Following the completion of the sale, the executive vice president directly owned 412,072 shares of the company's stock, valued at $18,155,892.32. The trade was a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 458,113 shares of company stock valued at $21,024,817. 2.82% of the stock is owned by company insiders.

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.