Man Group plc Sells 59,204 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Man Group plc trimmed its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 19.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 238,506 shares of the biotechnology company's stock after selling 59,204 shares during the quarter. Man Group plc owned 0.08% of Exelixis worth $7,942,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Coppell Advisory Solutions LLC bought a new stake in shares of Exelixis in the 4th quarter worth approximately $25,000. Colonial Trust Co SC increased its stake in shares of Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after buying an additional 765 shares during the period. Principal Securities Inc. raised its holdings in Exelixis by 62.8% during 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 during the last quarter. Kestra Investment Management LLC bought a new stake in Exelixis during the 4th quarter valued at $39,000. Finally, UMB Bank n.a. raised its holdings in Exelixis by 68.4% during the 4th 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. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXEL. JMP Securities reiterated a "market outperform" rating and set a $41.00 price target on shares of Exelixis in a report on Thursday, April 17th. Truist Financial upped their price target on shares of Exelixis from $42.00 to $43.00 and gave the company a "buy" rating in a report on Monday, January 27th. Wall Street Zen lowered shares of Exelixis from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Barclays upped their price target on shares of Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Finally, Oppenheimer lowered shares of Exelixis from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $41.00 to $33.00 in a report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.94.

Insider Transactions at Exelixis

In other news, Director Tomas J. Heyman sold 4,544 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $44.29, for a total value of $201,253.76. Following the sale, the director now directly owns 32,470 shares of the company's stock, valued at $1,438,096.30. This represents a 12.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Haley sold 126,383 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $47.96, for a total transaction of $6,061,328.68. Following the completion of the sale, the executive vice president now directly owns 446,459 shares in the company, valued at $21,412,173.64. This represents a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 559,873 shares of company stock valued at $24,646,347 in the last three months. 2.82% of the stock is currently owned by company insiders.

Exelixis Stock Down 2.0%

Shares of NASDAQ:EXEL traded down $0.86 during midday trading on Thursday, reaching $42.86. The company's stock had a trading volume of 2,977,285 shares, compared to its average volume of 2,295,428. The firm has a 50 day moving average of $37.79 and a 200-day moving average of $36.08. The firm has a market capitalization of $11.69 billion, a P/E ratio of 24.21, a PEG ratio of 1.13 and a beta of 0.25. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $48.85.

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.