Capital Management Corp VA Decreases Stake in Exelixis, Inc. (NASDAQ:EXEL)

Capital Management Corp VA reduced its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 22.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,610 shares of the biotechnology company's stock after selling 74,435 shares during the period. Exelixis makes up 1.7% of Capital Management Corp VA's holdings, making the stock its 27th biggest position. Capital Management Corp VA owned 0.09% of Exelixis worth $9,585,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Coppell Advisory Solutions LLC acquired a new stake in Exelixis during the fourth quarter worth about $25,000. Colonial Trust Co SC increased its position in Exelixis by 616.9% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 765 shares during the last quarter. Bartlett & CO. Wealth Management LLC acquired a new stake in Exelixis during the first quarter worth about $37,000. Crowley Wealth Management Inc. acquired a new stake in Exelixis during the fourth quarter worth about $50,000. Finally, Hurley Capital LLC acquired a new stake in Exelixis during the fourth quarter worth about $68,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Exelixis

In related news, Director Stelios Papadopoulos sold 36,508 shares of Exelixis stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $44.35, for a total value of $1,619,129.80. Following the completion of the transaction, the director owned 1,279,416 shares in the company, valued at approximately $56,742,099.60. The trade was a 2.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher J. Senner sold 100,000 shares of Exelixis stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $46.00, for a total transaction of $4,600,000.00. Following the completion of the transaction, the chief financial officer owned 967,842 shares of the company's stock, valued at $44,520,732. This trade represents a 9.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 458,113 shares of company stock valued at $21,024,817. 2.82% of the stock is owned by corporate insiders.

Exelixis Price Performance

Shares of EXEL stock traded down $0.40 during trading on Friday, reaching $44.47. The company's stock had a trading volume of 1,772,167 shares, compared to its average volume of 2,533,253. The company 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. The stock's 50-day moving average price is $43.17 and its 200 day moving average price is $38.41. Exelixis, Inc. has a 1-year low of $22.20 and a 1-year high of $49.62.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EXEL. Guggenheim set a $45.00 price objective on shares of Exelixis and gave the stock a "buy" rating in a research report on Thursday, May 15th. Jefferies Financial Group set a $50.00 price objective on shares of Exelixis and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Wall Street Zen cut shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley restated an "overweight" rating and set a $47.00 price objective (up from $40.00) on shares of Exelixis in a research report on Wednesday, May 14th. Finally, Barclays lifted their price target on shares of Exelixis from $29.00 to $40.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $45.28.

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.