Victory Capital Management Inc. Has $12.70 Million Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Victory Capital Management Inc. grew its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 311.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,092 shares of the biotechnology company's stock after acquiring an additional 260,442 shares during the period. Victory Capital Management Inc. owned 0.12% of Exelixis worth $12,704,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in Exelixis by 6.1% in the 1st quarter. Farther Finance Advisors LLC now owns 5,372 shares of the biotechnology company's stock valued at $195,000 after purchasing an additional 307 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Exelixis by 1.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company's stock valued at $573,000 after purchasing an additional 317 shares during the last quarter. Larson Financial Group LLC lifted its stake in Exelixis by 9.2% in the 1st quarter. Larson Financial Group LLC now owns 4,367 shares of the biotechnology company's stock valued at $161,000 after purchasing an additional 367 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Exelixis by 7.8% in the 4th quarter. Sterling Capital Management LLC now owns 6,627 shares of the biotechnology company's stock valued at $221,000 after purchasing an additional 477 shares during the last quarter. Finally, Comerica Bank lifted its stake in Exelixis by 0.6% in the 4th quarter. Comerica Bank now owns 87,681 shares of the biotechnology company's stock valued at $2,920,000 after purchasing an additional 544 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $46.18, for a total transaction of $1,154,500.00. Following the transaction, the executive vice president owned 693,396 shares in the company, valued at approximately $32,021,027.28. The trade was a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Amy C. Peterson sold 72,776 shares of Exelixis 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 owned 465,393 shares in the company, valued at approximately $21,161,419.71. This trade represents a 13.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 458,113 shares of company stock valued at $21,024,817 in the last quarter. Insiders own 2.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Exelixis from $29.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Benchmark restated a "neutral" rating on shares of Exelixis in a research report on Monday, June 23rd. Jefferies Financial Group set a $50.00 price objective on shares of Exelixis and gave the stock a "buy" rating in a research report on Tuesday, June 24th. UBS Group set a $43.00 price objective on shares of Exelixis and gave the stock a "neutral" rating in a research report on Friday, July 11th. Finally, Stifel Nicolaus raised their price objective on shares of Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.33.

Exelixis Stock Up 1.8%

Shares of NASDAQ EXEL traded up $0.81 during midday trading on Friday, reaching $45.60. 3,571,221 shares of the company were exchanged, compared to its average volume of 2,573,794. The stock's 50-day moving average price is $43.46 and its 200-day moving average price is $38.82. The stock has a market cap of $12.44 billion, a P/E ratio of 20.73, a PEG ratio of 0.91 and a beta of 0.28. Exelixis, Inc. has a one year low of $22.80 and a one year high of $49.62.

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.