Moran Wealth Management LLC Raises Position in Exelixis, Inc. (NASDAQ:EXEL)

Moran Wealth Management LLC lifted its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 232.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,272 shares of the biotechnology company's stock after acquiring an additional 65,186 shares during the quarter. Moran Wealth Management LLC's holdings in Exelixis were worth $3,444,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Exelixis in the 4th quarter valued at about $17,046,000. Proficio Capital Partners LLC purchased a new position in Exelixis in the 4th quarter valued at about $706,000. Wells Fargo & Company MN lifted its stake in Exelixis by 1,637.9% in the 4th quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company's stock valued at $24,851,000 after buying an additional 703,343 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Exelixis by 958.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,942 shares of the biotechnology company's stock valued at $99,000 after buying an additional 2,664 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in Exelixis by 10.6% in the 1st quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company's stock valued at $272,000 after buying an additional 707 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Performance

Shares of NASDAQ EXEL traded up $0.58 during midday trading on Friday, reaching $43.67. 3,523,886 shares of the stock were exchanged, compared to its average volume of 2,448,811. Exelixis, Inc. has a twelve month low of $21.82 and a twelve month high of $49.62. The company has a 50 day simple moving average of $41.07 and a 200 day simple moving average of $37.33. The stock has a market capitalization of $11.91 billion, a P/E ratio of 19.85, a PEG ratio of 0.86 and a beta of 0.28.

Insider Activity at Exelixis

In related news, Director Jack L. Wyszomierski sold 7,535 shares of Exelixis stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total value of $324,683.15. Following the completion of the sale, the director now owns 358,882 shares in the company, valued at approximately $15,464,225.38. This trade represents a 2.06% 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 Exelixis stock in a transaction that occurred 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 sale, the chief financial officer now owns 967,842 shares of the company's stock, valued at $44,520,732. This trade represents a 9.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 458,113 shares of company stock worth $21,024,817. Insiders own 2.82% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on EXEL shares. Truist Financial reissued a "buy" rating and issued a $55.00 target price (up from $43.00) on shares of Exelixis in a research note on Monday. Wells Fargo & Company reissued a "market outperform" rating on shares of Exelixis in a research note on Thursday, April 17th. HC Wainwright reissued a "buy" rating and issued a $47.00 target price (up from $40.00) on shares of Exelixis in a research note on Thursday, June 12th. Royal Bank Of Canada reissued an "outperform" rating and issued a $40.00 target price on shares of Exelixis in a research note on Wednesday, May 14th. Finally, Benchmark reissued a "neutral" rating on shares of Exelixis in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Exelixis presently has an average rating of "Moderate Buy" and an average target price of $43.22.

Exelixis 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.