Rafferty Asset Management LLC Cuts Position in Exelixis, Inc. (NASDAQ:EXEL)

Rafferty Asset Management LLC trimmed its position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 218,357 shares of the biotechnology company's stock after selling 9,414 shares during the quarter. Rafferty Asset Management LLC owned 0.08% of Exelixis worth $7,271,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Exelixis by 134.7% during the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock worth $476,000 after purchasing an additional 8,208 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Exelixis during the 4th quarter worth approximately $17,046,000. Allspring Global Investments Holdings LLC lifted its holdings in Exelixis by 82.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock worth $52,884,000 after buying an additional 704,786 shares in the last quarter. Inspire Investing LLC boosted its position in Exelixis by 25.0% in the 4th quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company's stock valued at $1,221,000 after buying an additional 7,331 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Exelixis by 4.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 505,289 shares of the biotechnology company's stock worth $16,826,000 after acquiring an additional 22,225 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Price Performance

Shares of EXEL stock traded down $0.64 during trading hours on Wednesday, hitting $43.72. The stock had a trading volume of 2,982,743 shares, compared to its average volume of 2,289,628. The firm has a market capitalization of $11.92 billion, a PE ratio of 24.70, a PEG ratio of 1.13 and a beta of 0.25. The stock's 50 day moving average is $37.54 and its 200 day moving average is $35.97. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $48.85.

Insider Activity at Exelixis

In other Exelixis news, Director Stelios Papadopoulos sold 36,508 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $44.35, for a total transaction of $1,619,129.80. Following the completion of the sale, the director now directly owns 1,279,416 shares of the company's stock, valued at $56,742,099.60. This represents a 2.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Senner sold 29,314 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.14, for a total value of $1,059,407.96. Following the sale, the chief financial officer now directly owns 779,607 shares of the company's stock, valued at $28,174,996.98. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 520,942 shares of company stock worth $22,930,002 in the last 90 days. 2.82% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on EXEL. Citigroup upped their price objective on Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Truist Financial increased their price target on Exelixis from $42.00 to $43.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Stephens restated an "equal weight" rating and set a $29.00 target price on shares of Exelixis in a research note on Wednesday, February 12th. 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 report on Wednesday, May 14th. Finally, Wells Fargo & Company reaffirmed a "market outperform" rating on shares of Exelixis in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.94.

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.