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

Tidal Investments LLC grew its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 187.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,665 shares of the biotechnology company's stock after buying 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 hedge funds also recently made changes to their positions in the business. Park Avenue Securities LLC bought a new stake in Exelixis during the fourth quarter worth approximately $221,000. Tallon Kerry Patrick bought a new stake in Exelixis during the fourth quarter worth approximately $2,619,000. Merit Financial Group LLC bought a new stake in Exelixis during the fourth quarter worth approximately $437,000. HB Wealth Management LLC raised its holdings in Exelixis by 26.6% during the fourth quarter. HB Wealth Management LLC now owns 20,936 shares of the biotechnology company's stock worth $697,000 after purchasing an additional 4,394 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company's stock worth $45,000 after purchasing an additional 553 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

EXEL has been the topic of several recent analyst reports. Piper Sandler boosted their target price on Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Wall Street Zen downgraded Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. HC Wainwright reiterated a "buy" rating and set a $40.00 price objective on shares of Exelixis in a research report on Thursday, March 27th. Morgan Stanley reiterated an "overweight" rating and set a $47.00 price objective (up previously from $40.00) on shares of Exelixis in a research report on Wednesday, May 14th. Finally, Stifel Nicolaus increased their price objective on Exelixis from $36.00 to $38.00 and gave the company a "hold" rating in a research report on Wednesday, May 14th. Two investment 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $38.94.

Exelixis Trading Up 1.2%

NASDAQ:EXEL traded up $0.50 on Tuesday, hitting $42.89. The company had a trading volume of 590,668 shares, compared to its average volume of 2,295,777. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 1.13 and a beta of 0.25. The firm has a 50 day moving average of $38.02 and a two-hundred day moving average of $36.19. Exelixis, Inc. has a 52 week low of $20.14 and a 52 week high of $48.85.

Insider Buying and Selling at Exelixis

In other news, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.80, for a total transaction of $388,000.00. Following the completion of the transaction, the executive vice president now directly owns 341,028 shares in the company, valued at $13,231,886.40. This trade represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack L. Wyszomierski sold 8,768 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $37.80, for a total transaction of $331,430.40. Following the transaction, the director now directly owns 356,605 shares in the company, valued at $13,479,669. The trade was a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 459,276 shares of company stock worth $20,945,859. 2.82% of the stock is currently owned by company insiders.

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.