Westover Capital Advisors LLC Invests $1.53 Million in Exelixis, Inc. (NASDAQ:EXEL)

Key Points

• Westover Capital Advisors LLC has invested approximately $1.53 million in Exelixis, Inc., acquiring 41,383 shares during the first quarter of the year.
• Institutional investors collectively own 85.27% of Exelixis's stock, with other hedge funds also increasing their stakes in the company recently.
• Exelixis stock received favorable ratings from various analysts, with a consensus rating of "Moderate Buy" and an average target price of $45.33.

Westover Capital Advisors LLC acquired a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 41,383 shares of the biotechnology company's stock, valued at approximately $1,528,000.

A number of other hedge funds also recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its position in Exelixis by 6.1% during the first quarter. Farther Finance Advisors LLC now owns 5,372 shares of the biotechnology company's stock worth $195,000 after buying an additional 307 shares in the last quarter. Balyasny Asset Management L.P. increased its position in Exelixis by 1.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company's stock worth $573,000 after purchasing an additional 317 shares during the last quarter. Larson Financial Group LLC boosted its holdings 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 increased its holdings in shares of Exelixis by 7.8% during the 4th quarter. Sterling Capital Management LLC now owns 6,627 shares of the biotechnology company's stock worth $221,000 after buying an additional 477 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of Exelixis by 0.6% during the 4th quarter. Comerica Bank now owns 87,681 shares of the biotechnology company's stock worth $2,920,000 after purchasing an additional 544 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Insider Activity

In other Exelixis news, Director Stelios Papadopoulos sold 36,508 shares of Exelixis stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $44.35, for a total transaction of $1,619,129.80. Following the transaction, the director owned 1,279,416 shares of the company's stock, valued at $56,742,099.60. The trade was a 2.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 126,383 shares of Exelixis 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 sale, the executive vice president directly owned 446,459 shares of the company's stock, valued at approximately $21,412,173.64. The trade was a 22.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 458,113 shares of company stock valued at $21,024,817 in the last ninety days. Corporate insiders own 2.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EXEL shares. Truist Financial boosted their price target on shares of Exelixis from $55.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. UBS Group lifted their target price on Exelixis from $38.00 to $43.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Stephens upgraded shares of Exelixis from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. JMP Securities boosted their target price on Exelixis from $47.00 to $50.00 and gave the stock a "market outperform" rating in a research report on Monday, June 23rd. Finally, Wall Street Zen cut shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $45.33.

Exelixis Trading Down 1.3%

Exelixis stock opened at $44.79 on Friday. The company's 50-day moving average price is $43.46 and its two-hundred day moving average price is $38.71. Exelixis, Inc. has a 52 week low of $22.36 and a 52 week high of $49.62. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 0.91 and a beta of 0.28.

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.

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