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

Voloridge Investment Management LLC bought a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 910,534 shares of the biotechnology company's stock, valued at approximately $30,321,000. Voloridge Investment Management LLC owned 0.32% of Exelixis at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its holdings in Exelixis by 134.7% during the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock valued at $476,000 after buying an additional 8,208 shares during the period. Raymond James Financial Inc. bought a new stake in Exelixis during the 4th quarter valued at $17,046,000. Allspring Global Investments Holdings LLC increased 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 acquiring an additional 704,786 shares during the period. Inspire Investing LLC raised its position 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 worth $1,221,000 after acquiring an additional 7,331 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Exelixis by 4.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 505,289 shares of the biotechnology company's stock worth $16,826,000 after purchasing an additional 22,225 shares during the last quarter. Institutional investors own 85.27% of the company's stock.

Exelixis Trading Up 0.6%

Shares of EXEL stock traded up $0.25 during mid-day trading on Tuesday, reaching $42.64. The stock had a trading volume of 779,511 shares, compared to its average volume of 2,296,735. Exelixis, Inc. has a 1-year low of $20.14 and a 1-year high of $48.85. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 1.13 and a beta of 0.25. The business's fifty day moving average is $38.02 and its 200-day moving average is $36.19.

Wall Street Analysts Forecast Growth

EXEL has been the topic of several analyst reports. Piper Sandler lifted their target price on Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $41.00 price objective on shares of Exelixis in a research report on Thursday, April 17th. Wall Street Zen cut shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Guggenheim set a $45.00 price target on shares of Exelixis and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, UBS Group reiterated an "underperform" rating on shares of Exelixis in a report on Thursday, April 17th. Two 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.94.

Insider Buying and Selling

In other Exelixis news, Director Jack L. Wyszomierski sold 8,768 shares of Exelixis stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $37.80, for a total transaction of $331,430.40. Following the completion of the transaction, the director now owns 356,605 shares in the company, valued at approximately $13,479,669. This trade represents a 2.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Amy C. Peterson sold 72,776 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $45.47, for a total value of $3,309,124.72. Following the sale, the chief marketing officer now directly owns 465,393 shares in the company, valued at approximately $21,161,419.71. This trade 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 459,276 shares of company stock valued at $20,945,859 over the last 90 days. Insiders own 2.82% of the company's stock.

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.