Concurrent Investment Advisors LLC Takes $457,000 Position in Exelixis, Inc. (NASDAQ:EXEL)

Concurrent Investment Advisors LLC purchased a new stake in shares of Exelixis, Inc. (NASDAQ:EXEL) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,382 shares of the biotechnology company’s stock, valued at approximately $457,000.

Several other institutional investors and hedge funds have also modified their holdings of EXEL. Steward Partners Investment Advisory LLC grew its holdings in shares of Exelixis by 4.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock valued at $235,000 after acquiring an additional 330 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Exelixis during the 4th quarter valued at $706,000. Raymond James Financial Inc. purchased a new position in shares of Exelixis during the 4th quarter valued at $17,046,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Exelixis by 5.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,447 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 3,349 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in shares of Exelixis during the 4th quarter valued at $2,728,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXEL has been the topic of several research analyst reports. Jefferies Financial Group set a $50.00 price target on shares of Exelixis and gave the company a “buy” rating in a report on Tuesday, June 24th. Citigroup lifted their price objective on shares of Exelixis from $45.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Benchmark reaffirmed a “neutral” rating on shares of Exelixis in a research note on Monday, June 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $47.00 price objective (up previously from $40.00) on shares of Exelixis in a research note on Wednesday, May 14th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $55.00 price objective (up previously from $43.00) on shares of Exelixis in a research note on Monday, June 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Exelixis presently has an average rating of “Moderate Buy” and an average target price of $44.72.

Exelixis Price Performance

Exelixis stock opened at $45.17 on Friday. The firm has a market cap of $12.32 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 0.88 and a beta of 0.28. Exelixis, Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $49.62. The firm has a fifty day moving average price of $42.32 and a two-hundred day moving average price of $37.95.

Insider Activity

In other Exelixis news, CFO Christopher J. Senner sold 100,000 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $46.00, for a total transaction of $4,600,000.00. Following the completion of the transaction, the chief financial officer owned 967,842 shares of the company’s stock, valued at $44,520,732. The trade was a 9.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $46.18, for a total transaction of $1,154,500.00. Following the transaction, the executive vice president directly owned 693,396 shares of the company’s stock, valued at $32,021,027.28. This represents a 3.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 458,113 shares of company stock worth $21,024,817. Insiders own 2.82% of the company’s stock.

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.