Rhumbline Advisers Sells 22,108 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Rhumbline Advisers trimmed its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 805,006 shares of the biotechnology company's stock after selling 22,108 shares during the quarter. Rhumbline Advisers owned 0.30% of Exelixis worth $29,721,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Exelixis by 4,779.4% during the 1st quarter. GAMMA Investing LLC now owns 201,472 shares of the biotechnology company's stock worth $7,438,000 after acquiring an additional 197,343 shares in the last quarter. NorthCrest Asset Manangement LLC increased its holdings in Exelixis by 14.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 13,536 shares of the biotechnology company's stock valued at $451,000 after buying an additional 1,758 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Exelixis in the fourth quarter worth approximately $11,998,000. Forum Financial Management LP purchased a new stake in Exelixis during the fourth quarter worth $241,000. Finally, GF Fund Management CO. LTD. bought a new stake in Exelixis during the 4th quarter valued at $200,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Buying and Selling at Exelixis

In related news, CMO Amy C. Peterson sold 72,776 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $45.47, for a total transaction of $3,309,124.72. Following the transaction, the chief marketing officer now directly owns 465,393 shares of the company's stock, valued at approximately $21,161,419.71. The trade was a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 1,508 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $39.00, for a total transaction of $58,812.00. Following the transaction, the executive vice president now directly owns 693,181 shares in the company, valued at $27,034,059. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 458,113 shares of company stock valued at $21,024,817. 2.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EXEL has been the subject of several recent research reports. Wall Street Zen lowered Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $40.00 price objective on shares of Exelixis in a research report on Wednesday, May 14th. Wells Fargo & Company reiterated a "market outperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Piper Sandler raised their target price on shares of Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $40.00 price target on shares of Exelixis in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Exelixis presently has a consensus rating of "Moderate Buy" and an average target price of $39.35.

Exelixis Stock Up 1.6%

Shares of EXEL stock traded up $0.66 on Friday, reaching $43.03. 2,336,895 shares of the stock were exchanged, compared to its average volume of 2,331,065. The firm has a 50 day moving average of $38.90 and a two-hundred day moving average of $36.58. Exelixis, Inc. has a 1-year low of $21.36 and a 1-year high of $48.85. The stock has a market cap of $11.73 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 1.13 and a beta of 0.28.

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.