Redwood Investments LLC Invests $4.09 Million in Exelixis, Inc. (NASDAQ:EXEL)

Redwood Investments LLC purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 122,921 shares of the biotechnology company's stock, valued at approximately $4,093,000. Exelixis comprises 1.1% of Redwood Investments LLC's investment portfolio, making the stock its 24th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXEL. Coppell Advisory Solutions LLC bought a new stake in Exelixis in the fourth quarter worth approximately $25,000. Colonial Trust Co SC grew its stake in shares of Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after buying an additional 765 shares during the period. USA Financial Formulas acquired a new stake in shares of Exelixis in the 4th quarter valued at about $32,000. Principal Securities Inc. increased its position in Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock valued at $32,000 after buying an additional 373 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in Exelixis in the fourth quarter valued at approximately $39,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Trading Up 0.2%

Shares of EXEL stock traded up $0.10 during trading hours on Tuesday, hitting $44.79. 1,404,949 shares of the company were exchanged, compared to its average volume of 2,841,565. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 1.13 and a beta of 0.25. The firm has a fifty day simple moving average of $37.38 and a 200 day simple moving average of $35.91. Exelixis, Inc. has a 52-week low of $20.14 and a 52-week high of $48.85.

Insider Buying and Selling at Exelixis

In related news, CMO Amy C. Peterson sold 72,776 shares of the business'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. The trade was a 13.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Christopher J. Senner sold 29,314 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the completion of the transaction, the chief financial officer now directly owns 779,607 shares of the company's stock, valued at approximately $28,174,996.98. This trade represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 520,942 shares of company stock valued at $22,930,002. Company insiders own 2.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. UBS Group reiterated an "underperform" rating on shares of Exelixis in a report on Thursday, April 17th. JMP Securities reiterated a "market outperform" rating and set a $41.00 price objective on shares of Exelixis in a report on Thursday, April 17th. HC Wainwright restated a "buy" rating and issued a $40.00 target price on shares of Exelixis in a report on Thursday, March 27th. Wells Fargo & Company reissued a "market outperform" rating on shares of Exelixis in a report on Thursday, April 17th. Finally, Barclays increased their price objective on Exelixis from $25.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.94.

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.