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IMA Advisory Services Inc. Trims Stake in Exelixis, Inc. (NASDAQ:EXEL)

Exelixis logo with Medical background

IMA Advisory Services Inc. trimmed its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,585 shares of the biotechnology company's stock after selling 8,351 shares during the quarter. IMA Advisory Services Inc.'s holdings in Exelixis were worth $3,898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Exelixis by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company's stock worth $979,994,000 after purchasing an additional 121,750 shares in the last quarter. LSV Asset Management lifted its stake in shares of Exelixis by 0.8% in the 4th quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company's stock valued at $272,056,000 after acquiring an additional 67,470 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake 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 acquiring an additional 708,312 shares during the last quarter. Invesco Ltd. raised its position in Exelixis by 308.1% during 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 last quarter. Finally, AQR Capital Management LLC raised its position 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 valued at $132,101,000 after purchasing an additional 810,857 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXEL has been the topic of several recent analyst reports. HC Wainwright increased their target price on Exelixis from $47.00 to $53.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Truist Financial set a $56.00 price objective on Exelixis and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Barclays boosted their price target on Exelixis from $29.00 to $40.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Stephens raised Exelixis from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. Finally, JMP Securities upped their price target on shares of Exelixis from $47.00 to $50.00 and gave the company a "market outperform" rating in a report on Monday, June 23rd. One research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.33.

Get Our Latest Report on Exelixis

Exelixis Trading Up 0.5%

Shares of EXEL opened at $44.47 on Wednesday. The firm's 50-day moving average is $43.17 and its two-hundred day moving average is $38.47. Exelixis, Inc. has a twelve month low of $22.20 and a twelve month high of $49.62. The firm has a market capitalization of $12.13 billion, a P/E ratio of 20.21, a PEG ratio of 0.89 and a beta of 0.28.

Insider Buying and Selling at Exelixis

In related news, Director Stelios Papadopoulos sold 36,508 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $44.35, for a total transaction of $1,619,129.80. Following the completion of the sale, the director directly owned 1,279,416 shares of the company's stock, valued at approximately $56,742,099.60. This trade represents a 2.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Senner sold 100,000 shares of the firm's stock in a transaction 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 sale, the chief financial officer directly owned 967,842 shares of the company's stock, valued at approximately $44,520,732. The trade was a 9.36% decrease in their ownership of the stock. 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. 2.85% of the stock is owned by corporate insiders.

About Exelixis

(Free Report)

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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Want to see what other hedge funds are holding EXEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelixis, Inc. (NASDAQ:EXEL - Free Report).

Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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