Exelixis, Inc. (NASDAQ:EXEL) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC boosted its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 154.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,453 shares of the biotechnology company's stock after acquiring an additional 20,325 shares during the period. Merit Financial Group LLC's holdings in Exelixis were worth $1,235,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC acquired a new position in Exelixis during the 4th quarter worth approximately $25,000. Colonial Trust Co SC lifted its stake in Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after buying an additional 765 shares in the last quarter. Principal Securities Inc. lifted its stake in Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock valued at $32,000 after buying an additional 373 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Exelixis in the 4th quarter valued at $39,000. Finally, Crowley Wealth Management Inc. acquired a new position in Exelixis in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EXEL shares. Wall Street Zen downgraded Exelixis from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Wells Fargo & Company reissued a "market outperform" rating on shares of Exelixis in a research report on Thursday, April 17th. Piper Sandler upped their price objective on shares of Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Stifel Nicolaus increased their price target on shares of Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a research report on Wednesday, May 14th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $47.00 price target (up previously from $40.00) on shares of Exelixis in a research report on Wednesday, May 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.35.

Insider Activity at Exelixis

In other Exelixis news, EVP Dana Aftab sold 1,508 shares of Exelixis stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $39.00, for a total transaction of $58,812.00. Following the transaction, the executive vice president now directly owns 693,181 shares in the company, valued at approximately $27,034,059. The trade was a 0.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack L. Wyszomierski sold 7,535 shares of Exelixis stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total transaction of $324,683.15. Following the transaction, the director now owns 358,882 shares in the company, valued at approximately $15,464,225.38. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 458,113 shares of company stock worth $21,024,817 over the last quarter. 2.85% of the stock is currently owned by company insiders.

Exelixis Trading Up 1.6%

Shares of NASDAQ:EXEL opened at $43.03 on Friday. Exelixis, Inc. has a 52 week low of $21.36 and a 52 week high of $48.85. The firm has a market capitalization of $11.73 billion, a P/E ratio of 24.31, a PEG ratio of 1.13 and a beta of 0.28. The firm's 50 day moving average is $39.03 and its two-hundred day moving average is $36.66.

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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