Voloridge Investment Management LLC Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

Voloridge Investment Management LLC acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 910,534 shares of the biotechnology company's stock, valued at approximately $30,321,000. Voloridge Investment Management LLC owned approximately 0.32% of Exelixis at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Exelixis by 134.7% in the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock valued at $476,000 after purchasing an additional 8,208 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Exelixis in the 4th quarter valued at about $17,046,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Exelixis by 82.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock valued at $52,884,000 after purchasing an additional 704,786 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of 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 purchasing an additional 7,331 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Exelixis by 4.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 505,289 shares of the biotechnology company's stock valued at $16,826,000 after purchasing an additional 22,225 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Exelixis Stock Performance

Shares of EXEL traded down $0.47 during trading hours on Friday, hitting $42.39. The stock had a trading volume of 2,939,995 shares, compared to its average volume of 2,302,401. The firm has a 50-day moving average price of $37.91 and a 200 day moving average price of $36.14. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $48.85. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.13 and a beta of 0.25.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EXEL. JMP Securities restated a "market outperform" rating and issued a $41.00 price target on shares of Exelixis in a report on Thursday, April 17th. Wells Fargo & Company restated a "market outperform" rating on shares of Exelixis in a report on Thursday, April 17th. Guggenheim set a $45.00 price target on shares of Exelixis and gave the company a "buy" rating in a report on Thursday, May 15th. 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 note on Wednesday, May 14th. Finally, Stifel Nicolaus upped their price objective on shares of Exelixis from $36.00 to $38.00 and gave the company a "hold" rating in a report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.94.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 126,383 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $47.96, for a total value of $6,061,328.68. Following the completion of the transaction, the executive vice president now directly owns 446,459 shares in the company, valued at $21,412,173.64. The trade was a 22.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Amy C. Peterson sold 72,776 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $45.47, for a total transaction of $3,309,124.72. Following the completion of the transaction, the chief marketing officer now owns 465,393 shares of the company's stock, valued at approximately $21,161,419.71. This represents a 13.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 559,873 shares of company stock worth $24,646,347 in the last three months. Company 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.