Cwm LLC Increases Stake in Exelixis, Inc. (NASDAQ:EXEL)

CWM LLC raised its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 60.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,189 shares of the biotechnology company's stock after purchasing an additional 50,357 shares during the quarter. CWM LLC's holdings in Exelixis were worth $4,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Stephens Inc. AR lifted its position in Exelixis by 721.1% during the first quarter. Stephens Inc. AR now owns 73,398 shares of the biotechnology company's stock valued at $2,710,000 after purchasing an additional 64,459 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Exelixis by 2.7% in the 1st quarter. New York State Common Retirement Fund now owns 161,457 shares of the biotechnology company's stock worth $5,961,000 after acquiring an additional 4,200 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Exelixis by 127.3% in the 1st quarter. Cerity Partners LLC now owns 167,915 shares of the biotechnology company's stock worth $6,199,000 after acquiring an additional 94,031 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Exelixis by 72.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 107,474 shares of the biotechnology company's stock worth $3,968,000 after acquiring an additional 45,060 shares during the last quarter. Finally, Banque Pictet & Cie SA bought a new stake in shares of Exelixis in the 1st quarter worth approximately $537,000. 85.27% of the stock is currently owned by institutional investors.

Insider Transactions at Exelixis

In other news, Director Tomas J. Heyman sold 4,544 shares of the company'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 sale, the director directly owned 32,470 shares of the company's stock, valued at $1,438,096.30. This represents a 12.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sue Gail Eckhardt sold 18,838 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $42.74, for a total transaction of $805,136.12. Following the completion of the sale, the director directly owned 21,380 shares in the company, valued at $913,781.20. This represents a 46.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 458,113 shares of company stock worth $21,024,817. 2.82% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Exelixis from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Wells Fargo & Company restated a "market outperform" rating on shares of Exelixis in a report on Thursday, April 17th. Bank of America boosted their price objective on shares of Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Barclays boosted their price objective on shares of Exelixis from $29.00 to $40.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, Guggenheim set a $45.00 price objective on shares of Exelixis and gave the stock a "buy" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Exelixis presently has an average rating of "Moderate Buy" and a consensus target price of $45.28.

Exelixis Price Performance

Exelixis stock traded down $0.40 during mid-day trading on Friday, reaching $44.47. 1,772,154 shares of the company traded hands, compared to its average volume of 2,527,810. The firm's 50 day moving average price is $43.01 and its 200 day moving average price is $38.33. The firm has a market capitalization of $12.13 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 0.90 and a beta of 0.28. Exelixis, Inc. has a 52-week low of $22.20 and a 52-week high of $49.62.

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.