Quantinno Capital Management LP Buys New Position in Exelixis, Inc. (NASDAQ:EXEL)

Quantinno Capital Management LP purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 16,779 shares of the biotechnology company's stock, valued at approximately $559,000.

A number of other institutional investors have also recently bought and sold shares of EXEL. Invesco Ltd. grew its holdings in Exelixis by 308.1% in the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company's stock valued at $132,376,000 after purchasing an additional 3,001,204 shares during the period. Norges Bank purchased a new stake in Exelixis in the fourth quarter valued at approximately $94,867,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in Exelixis by 330.4% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company's stock valued at $82,730,000 after purchasing an additional 1,907,167 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Exelixis by 104.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company's stock valued at $105,208,000 after purchasing an additional 1,613,482 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Exelixis by 25.7% in the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company's stock valued at $132,101,000 after purchasing an additional 810,857 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXEL has been the subject of several research reports. HC Wainwright reiterated a "buy" rating and set a $40.00 price objective on shares of Exelixis in a research note on Thursday, March 27th. Morgan Stanley reiterated an "overweight" rating and set a $47.00 price objective (up from $40.00) on shares of Exelixis in a research note on Wednesday, May 14th. Royal Bank of Canada reiterated an "outperform" rating and set a $40.00 price objective on shares of Exelixis in a research note on Wednesday, May 14th. Guggenheim set a $45.00 price objective on shares of Exelixis and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Barclays boosted their price objective on shares of Exelixis from $25.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.94.

Exelixis Stock Down 0.1%

Shares of NASDAQ EXEL traded down $0.06 during trading on Thursday, reaching $42.35. 979,251 shares of the stock were exchanged, compared to its average volume of 2,306,880. The business's 50-day moving average price is $38.25 and its 200 day moving average price is $36.28. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $48.85. The company has a market capitalization of $11.55 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.13 and a beta of 0.25.

Insider Activity at Exelixis

In related news, Director Tomas J. Heyman sold 4,544 shares of the company's 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jack L. Wyszomierski sold 8,768 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $37.80, for a total transaction of $331,430.40. Following the sale, the director now owns 356,605 shares of the company's stock, valued at approximately $13,479,669. The trade was a 2.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 459,276 shares of company stock valued at $20,945,859 over the last ninety days. Corporate insiders own 2.82% of the company's stock.

About Exelixis

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.