Moran Wealth Management LLC lifted its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 232.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,272 shares of the biotechnology company's stock after purchasing an additional 65,186 shares during the quarter. Moran Wealth Management LLC's holdings in Exelixis were worth $3,444,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Management One Co. Ltd. acquired a new stake in shares of Exelixis during the first quarter worth $720,000. Sawgrass Asset Management LLC bought a new stake in Exelixis during the 1st quarter worth about $8,191,000. Flagship Harbor Advisors LLC bought a new stake in Exelixis during the 1st quarter worth about $233,000. Cambridge Investment Research Advisors Inc. lifted its position in Exelixis by 22.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 84,092 shares of the biotechnology company's stock worth $3,105,000 after buying an additional 15,183 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Exelixis by 15.5% during the 1st quarter. Blue Trust Inc. now owns 12,976 shares of the biotechnology company's stock worth $479,000 after buying an additional 1,745 shares in the last quarter. 85.27% of the stock is owned by institutional investors.
Exelixis Price Performance
EXEL traded up $0.58 during trading on Friday, hitting $43.67. The stock had a trading volume of 3,523,886 shares, compared to its average volume of 2,447,120. The company has a 50 day moving average price of $41.07 and a 200-day moving average price of $37.36. The firm has a market cap of $11.91 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 0.88 and a beta of 0.28. Exelixis, Inc. has a one year low of $21.82 and a one year high of $49.62.
Wall Street Analysts Forecast Growth
EXEL has been the topic of several analyst reports. 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 reissued an "overweight" rating and set a $47.00 price target (up from $40.00) on shares of Exelixis in a research report on Wednesday, May 14th. Royal Bank Of Canada reissued an "outperform" rating and set a $40.00 price target on shares of Exelixis in a research report on Wednesday, May 14th. HC Wainwright reissued a "buy" rating and set a $47.00 price target (up from $40.00) on shares of Exelixis in a research report on Thursday, June 12th. Finally, Stifel Nicolaus boosted their price target on shares of Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a research report on Wednesday, May 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.22.
Read Our Latest Stock Report on Exelixis
Insiders Place Their Bets
In related news, Director Tomas J. Heyman sold 4,544 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were 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 approximately $1,438,096.30. This trade represents a 12.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dana Aftab sold 1,508 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $39.00, for a total transaction of $58,812.00. Following the sale, the executive vice president now owns 693,181 shares in the company, valued at $27,034,059. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 458,113 shares of company stock worth $21,024,817 in the last quarter. Corporate insiders own 2.85% of the company's stock.
Exelixis Profile
(
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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