Hudson Bay Capital Management LP Makes New Investment in Exelixis, Inc. (NASDAQ:EXEL)

Hudson Bay Capital Management LP purchased a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 125,000 shares of the biotechnology company's stock, valued at approximately $4,162,000.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Exelixis by 134.7% during the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock worth $476,000 after purchasing an additional 8,208 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Exelixis during the 4th quarter worth $17,046,000. Allspring Global Investments Holdings LLC lifted its position in shares of Exelixis by 82.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock worth $52,884,000 after purchasing an additional 704,786 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Exelixis by 25.0% during the 4th quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company's stock worth $1,221,000 after purchasing an additional 7,331 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position 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. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Dana Aftab sold 1,508 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $39.00, for a total transaction of $58,812.00. Following the completion of the transaction, the executive vice president now owns 693,181 shares in the company, valued at approximately $27,034,059. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Patrick J. Haley sold 52,636 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the transaction, the executive vice president now owns 303,310 shares of the company's stock, valued at approximately $11,216,403.80. The trade was a 14.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,641 shares of company stock worth $4,810,161. Corporate insiders own 2.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company reaffirmed a "market outperform" rating on shares of Exelixis in a research report on Thursday, April 17th. Citigroup boosted their price target on shares of Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday. Stephens reissued an "equal weight" rating and issued a $29.00 price target on shares of Exelixis in a research report on Wednesday, February 12th. StockNews.com cut shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $40.00 price target on shares of Exelixis in a research report on Wednesday. Two 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. According to MarketBeat, Exelixis currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.76.

Exelixis Stock Performance

Shares of EXEL stock traded down $0.86 during midday trading on Friday, reaching $45.40. 5,538,335 shares of the company were exchanged, compared to its average volume of 2,269,022. Exelixis, Inc. has a 12 month low of $20.14 and a 12 month high of $48.85. The company has a market cap of $12.51 billion, a P/E ratio of 25.65, a PEG ratio of 1.13 and a beta of 0.25. The company's 50 day moving average price is $37.06 and its two-hundred day moving average price is $35.68.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, sell-side analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current year.

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.