Mubadala Investment Co PJSC Invests $2.32 Million in Exelixis, Inc. (NASDAQ:EXEL)

Mubadala Investment Co PJSC acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 69,579 shares of the biotechnology company's stock, valued at approximately $2,317,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Lazard Asset Management LLC grew its position in shares of Exelixis by 80.0% in the fourth quarter. Lazard Asset Management LLC now owns 214,462 shares of the biotechnology company's stock valued at $7,140,000 after purchasing an additional 95,315 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC bought a new position in shares of Exelixis in the 4th quarter valued at $234,000. Janus Henderson Group PLC lifted its stake in shares of Exelixis by 1.3% in the 4th quarter. Janus Henderson Group PLC now owns 124,905 shares of the biotechnology company's stock valued at $4,160,000 after acquiring an additional 1,558 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Exelixis in the 4th quarter valued at $4,162,000. Finally, Gotham Asset Management LLC lifted its stake in shares of Exelixis by 41.9% in the 4th quarter. Gotham Asset Management LLC now owns 427,855 shares of the biotechnology company's stock valued at $14,248,000 after acquiring an additional 126,375 shares during the last quarter. Institutional investors own 85.27% of the company's stock.

Exelixis Stock Performance

EXEL traded down $0.86 during trading on Friday, reaching $45.40. The stock had a trading volume of 5,538,335 shares, compared to its average volume of 2,272,982. The stock has a market cap of $12.51 billion, a PE ratio of 25.65, a PEG ratio of 1.13 and a beta of 0.25. Exelixis, Inc. has a one year low of $20.14 and a one year high of $48.85. The business has a 50-day moving average of $37.23 and a 200-day moving average of $35.82.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EXEL. Guggenheim reaffirmed a "buy" rating and set a $42.00 target price on shares of Exelixis in a research report on Wednesday, February 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $40.00 price objective on shares of Exelixis in a research report on Wednesday. UBS Group restated an "underperform" rating on shares of Exelixis in a research note on Thursday, April 17th. JMP Securities restated a "market outperform" rating and issued a $41.00 target price on shares of Exelixis in a research note on Thursday, April 17th. Finally, Piper Sandler upped their price objective on Exelixis from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $38.76.

Insider Activity at Exelixis

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $46.18, for a total transaction of $1,154,500.00. Following the transaction, the executive vice president now directly owns 693,396 shares of the company's stock, valued at approximately $32,021,027.28. This trade represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 126,383 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 446,459 shares in the company, valued at $21,412,173.64. This trade represents a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 520,942 shares of company stock valued at $22,930,002 over the last 90 days. 2.82% of the stock is owned by insiders.

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.