Stephens Investment Management Group LLC Sells 71,457 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Stephens Investment Management Group LLC cut its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 2.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,016,564 shares of the biotechnology company's stock after selling 71,457 shares during the quarter. Exelixis makes up 1.6% of Stephens Investment Management Group LLC's portfolio, making the stock its 6th largest holding. Stephens Investment Management Group LLC owned about 1.09% of Exelixis worth $111,372,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXEL. Vanguard Group Inc. raised its holdings 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 valued at $979,994,000 after buying an additional 121,750 shares during the last quarter. LSV Asset Management raised its holdings in shares of Exelixis by 0.8% in the fourth quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company's stock valued at $272,056,000 after buying an additional 67,470 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Exelixis by 10.2% in the fourth 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 holdings in shares of Exelixis by 308.1% in the fourth 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 increased its position in Exelixis by 25.7% in the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company's stock worth $132,101,000 after purchasing an additional 810,857 shares during the period. 85.27% of the stock is owned by institutional investors.

Insider Transactions at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 34,387 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $44.06, for a total value of $1,515,091.22. Following the sale, the executive vice president owned 412,072 shares in the company, valued at approximately $18,155,892.32. The trade was a 7.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Amy C. Peterson sold 72,776 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $45.47, for a total value of $3,309,124.72. Following the completion of the sale, the chief marketing officer owned 465,393 shares in the company, valued at $21,161,419.71. The trade was a 13.52% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 458,113 shares of company stock worth $21,024,817. Corporate insiders own 2.85% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on EXEL. JMP Securities lifted their price objective on Exelixis from $47.00 to $50.00 and gave the stock a "market outperform" rating in a research report on Monday, June 23rd. Stifel Nicolaus lifted their price objective on Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a research report on Wednesday, May 14th. Barclays lifted their price objective on Exelixis from $29.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Thursday. Benchmark reiterated a "neutral" rating on shares of Exelixis in a research report on Monday, June 23rd. Finally, Truist Financial reiterated 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $45.22.

Exelixis Stock Performance

NASDAQ EXEL traded up $0.86 during trading on Monday, hitting $45.72. The stock had a trading volume of 459,809 shares, compared to its average volume of 2,518,505. The company has a market capitalization of $12.47 billion, a PE ratio of 20.79, a P/E/G ratio of 0.90 and a beta of 0.28. The company's 50-day moving average price is $42.42 and its two-hundred day moving average price is $38.08. Exelixis, Inc. has a 12 month low of $22.20 and a 12 month 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.