Penserra Capital Management LLC Makes New $1.30 Million Investment in Exelixis, Inc. (NASDAQ:EXEL)

Penserra Capital Management LLC acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 35,162 shares of the biotechnology company's stock, valued at approximately $1,298,000.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in Exelixis by 32.2% in the first quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock worth $201,000 after purchasing an additional 1,328 shares during the period. Raymond James Financial Inc. bought a new stake in Exelixis during the 4th quarter valued at about $17,046,000. Wells Fargo & Company MN grew 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 worth $24,851,000 after acquiring an additional 703,343 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Exelixis by 10.6% during 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 during the period. Finally, HighTower Advisors LLC raised its stake in shares of Exelixis by 16.1% during the fourth quarter. HighTower Advisors LLC now owns 75,119 shares of the biotechnology company's stock valued at $2,501,000 after acquiring an additional 10,391 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on EXEL shares. UBS Group restated an "underperform" rating on shares of Exelixis in a report on Thursday, April 17th. Bank of America raised their price target on Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Stifel Nicolaus upped their price objective on shares of Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a research note on Wednesday, May 14th. Citigroup raised their target price on shares of Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $55.00 price target (up previously from $43.00) on shares of Exelixis in a research report on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Exelixis has an average rating of "Moderate Buy" and a consensus price target of $44.72.

Exelixis Price Performance

Exelixis stock traded down $0.31 during mid-day trading on Friday, reaching $44.86. 2,063,340 shares of the company traded hands, compared to its average volume of 2,526,352. The firm's fifty day moving average is $42.42 and its two-hundred day moving average is $38.06. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 0.90 and a beta of 0.28. Exelixis, Inc. has a fifty-two week low of $22.20 and a fifty-two week high of $49.62.

Insider Activity

In related news, Director Sue Gail Eckhardt sold 18,838 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $42.74, for a total transaction of $805,136.12. Following the completion of the transaction, the director directly owned 21,380 shares in the company, valued at $913,781.20. The trade was a 46.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Patrick J. Haley sold 34,387 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $44.06, for a total transaction of $1,515,091.22. Following the completion of the sale, the executive vice president directly owned 412,072 shares in the company, valued at approximately $18,155,892.32. The trade was a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 458,113 shares of company stock valued at $21,024,817. 2.82% of the stock is owned by insiders.

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.