Monument Capital Management Acquires New Position in Exelixis, Inc. (NASDAQ:EXEL)

Monument Capital Management acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 82,533 shares of the biotechnology company's stock, valued at approximately $3,047,000.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Exelixis in the fourth quarter worth approximately $17,046,000. Proficio Capital Partners LLC bought a new stake in Exelixis in the fourth quarter worth approximately $706,000. Wells Fargo & Company MN grew its position in Exelixis by 1,637.9% in the fourth quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company's stock worth $24,851,000 after acquiring an additional 703,343 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Exelixis by 958.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,942 shares of the biotechnology company's stock worth $99,000 after acquiring an additional 2,664 shares in the last quarter. Finally, Park Avenue Securities LLC grew its position in Exelixis by 10.6% in the first quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company's stock worth $272,000 after acquiring an additional 707 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Tomas J. Heyman sold 4,544 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $44.29, for a total value of $201,253.76. Following the completion of the transaction, the director now owns 32,470 shares in the company, valued at approximately $1,438,096.30. This represents a 12.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Senner sold 100,000 shares of the 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 completion of the transaction, the chief financial officer now owns 967,842 shares of the company's stock, valued at approximately $44,520,732. This represents a 9.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 458,113 shares of company stock worth $21,024,817. 2.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EXEL has been the subject of several recent research reports. HC Wainwright reissued a "buy" rating and issued a $47.00 target price (up from $40.00) on shares of Exelixis in a research report on Thursday, June 12th. Morgan Stanley reissued an "overweight" rating and issued a $47.00 target price (up from $40.00) on shares of Exelixis in a research report on Wednesday, May 14th. Bank of America upped their price objective on shares of Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Truist Financial reaffirmed a "buy" rating and set a $55.00 price objective (up from $43.00) on shares of Exelixis in a report on Monday, June 23rd. Finally, Wall Street Zen downgraded shares of Exelixis from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $43.22.

Exelixis Price Performance

Shares of Exelixis stock opened at $43.67 on Monday. Exelixis, Inc. has a fifty-two week low of $21.82 and a fifty-two week high of $94.40. The firm has a fifty day moving average price of $41.07 and a two-hundred day moving average price of $37.36. The company has a market cap of $11.91 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 0.88 and a beta of 0.28.

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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