Stone Ridge Asset Management LLC acquired a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 92,001 shares of the biotechnology company’s stock, valued at approximately $2,797,000.
A number of other institutional investors have also recently made changes to their positions in EXEL. Vident Investment Advisory LLC purchased a new position in shares of Exelixis in the 3rd quarter valued at about $783,000. Keybank National Association OH increased its holdings in shares of Exelixis by 114.3% in the 4th quarter. Keybank National Association OH now owns 44,793 shares of the biotechnology company’s stock valued at $1,362,000 after purchasing an additional 23,893 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Exelixis in the 3rd quarter valued at about $334,000. MANA Advisors LLC purchased a new position in shares of Exelixis in the 4th quarter valued at about $1,287,000. Finally, OppenheimerFunds Inc. increased its holdings in shares of Exelixis by 17.8% in the 4th quarter. OppenheimerFunds Inc. now owns 1,316,745 shares of the biotechnology company’s stock valued at $40,029,000 after purchasing an additional 199,435 shares in the last quarter. Institutional investors own 80.55% of the company’s stock.
Exelixis, Inc. (NASDAQ:EXEL) opened at $24.53 on Monday. Exelixis, Inc. has a twelve month low of $18.03 and a twelve month high of $32.50. The firm has a market cap of $7,268.42, a PE ratio of 48.10, a price-to-earnings-growth ratio of 1.29 and a beta of 1.96.
In other Exelixis news, Director Lance Willsey sold 30,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $23.91, for a total transaction of $717,300.00. Following the completion of the transaction, the director now directly owns 483,273 shares in the company, valued at approximately $11,555,057.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan M. Garber sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $30.30, for a total transaction of $454,500.00. Following the transaction, the director now owns 64,829 shares of the company’s stock, valued at $1,964,318.70. The disclosure for this sale can be found here. Insiders have sold a total of 120,029 shares of company stock valued at $3,158,287 over the last 90 days. 5.10% of the stock is currently owned by insiders.
A number of equities analysts have recently issued reports on the stock. BidaskClub downgraded shares of Exelixis from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Cann reiterated a “buy” rating and issued a $40.00 price target on shares of Exelixis in a report on Thursday. Stifel Nicolaus increased their price target on shares of Exelixis from $29.00 to $30.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. ValuEngine downgraded shares of Exelixis from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, Oppenheimer reiterated a “hold” rating on shares of Exelixis in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Exelixis has an average rating of “Buy” and an average target price of $34.10.
TRADEMARK VIOLATION WARNING: This report was reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2018/03/12/stone-ridge-asset-management-llc-invests-2-80-million-in-exelixis-inc-exel-stock.html.
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
Want to see what other hedge funds are holding EXEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelixis, Inc. (NASDAQ:EXEL).
Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.