Tidal Investments LLC Buys 68,299 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Tidal Investments LLC raised its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 187.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,665 shares of the biotechnology company's stock after acquiring an additional 68,299 shares during the period. Tidal Investments LLC's holdings in Exelixis were worth $3,485,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXEL. Park Avenue Securities LLC acquired a new position in Exelixis in the fourth quarter valued at about $221,000. Tallon Kerry Patrick acquired a new position in Exelixis in the fourth quarter valued at about $2,619,000. Merit Financial Group LLC acquired a new position in Exelixis in the fourth quarter valued at about $437,000. HB Wealth Management LLC grew its stake in Exelixis by 26.6% in the fourth quarter. HB Wealth Management LLC now owns 20,936 shares of the biotechnology company's stock valued at $697,000 after acquiring an additional 4,394 shares during the period. Finally, UMB Bank n.a. grew its stake in Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock valued at $45,000 after acquiring an additional 553 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Stock Performance

NASDAQ EXEL traded down $0.47 during trading hours on Friday, hitting $42.39. 2,939,995 shares of the company traded hands, compared to its average volume of 2,302,401. The business's 50-day moving average is $37.91 and its 200-day moving average is $36.14. Exelixis, Inc. has a twelve month low of $20.14 and a twelve month high of $48.85. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 1.13 and a beta of 0.25.

Wall Street Analyst Weigh In

EXEL has been the subject of a number of research analyst reports. Wells Fargo & Company reissued a "market outperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Piper Sandler upped their price objective on Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Oppenheimer cut Exelixis from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. JMP Securities reaffirmed a "market outperform" rating and set a $41.00 price objective on shares of Exelixis in a research report on Thursday, April 17th. Finally, Stephens reaffirmed an "equal weight" rating and set a $29.00 price objective on shares of Exelixis in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Exelixis presently has an average rating of "Moderate Buy" and a consensus price target of $38.94.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 52,636 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the transaction, the executive vice president now directly owns 303,310 shares of the company's stock, valued at approximately $11,216,403.80. This represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher J. Senner sold 29,314 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $36.14, for a total value of $1,059,407.96. Following the transaction, the chief financial officer now directly owns 779,607 shares of the company's stock, valued at $28,174,996.98. This trade represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 559,873 shares of company stock valued at $24,646,347. Insiders own 2.82% of the company's stock.

Exelixis Company 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.