JT Stratford LLC Takes $288,000 Position in Exelixis, Inc. (NASDAQ:EXEL)

JT Stratford LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,648 shares of the biotechnology company's stock, valued at approximately $288,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Avenue Securities LLC acquired a new stake in shares of Exelixis during the fourth quarter worth about $221,000. Tallon Kerry Patrick purchased a new position in Exelixis during the 4th quarter worth approximately $2,619,000. Merit Financial Group LLC acquired a new position in Exelixis during the fourth quarter worth approximately $437,000. UMB Bank n.a. lifted its stake in Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock valued at $45,000 after buying an additional 553 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Exelixis by 18.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company's stock valued at $63,000 after acquiring an additional 290 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXEL has been the topic of a number of recent research reports. Barclays lifted their price objective on shares of Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, February 13th. Citigroup boosted their price target on Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. UBS Group reaffirmed an "underperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Morgan Stanley reaffirmed 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, HC Wainwright reissued a "buy" rating and issued a $40.00 target price on shares of Exelixis in a report on Thursday, March 27th. Two investment 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.com, Exelixis currently has a consensus rating of "Moderate Buy" and an average target price of $38.94.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 52,636 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the transaction, the executive vice president now directly owns 303,310 shares of the company's stock, valued at $11,216,403.80. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tomas J. Heyman sold 4,544 shares of Exelixis stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $44.29, for a total transaction of $201,253.76. Following the sale, the director now owns 32,470 shares in the company, valued at $1,438,096.30. This represents a 12.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 559,873 shares of company stock valued at $24,646,347 over the last three months. 2.82% of the stock is owned by corporate insiders.

Exelixis Stock Performance

NASDAQ:EXEL opened at $42.86 on Friday. The firm's 50-day moving average is $37.79 and its 200-day moving average is $36.08. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.13 and a beta of 0.25. Exelixis, Inc. has a 52-week low of $20.14 and a 52-week high of $48.85.

About Exelixis

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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