Nisa Investment Advisors LLC Sells 37,654 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Nisa Investment Advisors LLC cut its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 88.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,025 shares of the biotechnology company’s stock after selling 37,654 shares during the period. Nisa Investment Advisors LLC’s holdings in Exelixis were worth $113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC raised its stake in Exelixis by 32.2% in the 4th quarter. CWM LLC now owns 10,176 shares of the biotechnology company’s stock valued at $244,000 after acquiring an additional 2,478 shares during the period. Handelsbanken Fonder AB raised its position in shares of Exelixis by 16.7% in the fourth quarter. Handelsbanken Fonder AB now owns 64,366 shares of the biotechnology company’s stock valued at $1,544,000 after purchasing an additional 9,200 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Exelixis during the 4th quarter worth about $27,000. Truist Financial Corp bought a new stake in shares of Exelixis during the 4th quarter worth about $218,000. Finally, Russell Investments Group Ltd. grew its stake in Exelixis by 2.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,513,591 shares of the biotechnology company’s stock valued at $36,314,000 after buying an additional 37,438 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EXEL shares. William Blair restated an “outperform” rating on shares of Exelixis in a report on Wednesday, May 1st. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. Stephens started coverage on Exelixis in a report on Tuesday, May 14th. They set an “equal weight” rating and a $23.00 target price for the company. Oppenheimer reissued an “outperform” rating and issued a $29.00 target price on shares of Exelixis in a research report on Tuesday, July 30th. Finally, JMP Securities raised their price target on shares of Exelixis from $27.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Exelixis currently has a consensus rating of “Moderate Buy” and an average target price of $27.43.

Insider Activity

In other Exelixis news, Director David Edward Johnson acquired 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average cost of $20.32 per share, for a total transaction of $4,064,000.00. Following the transaction, the director now directly owns 1,300,730 shares in the company, valued at $26,430,833.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the sale, the chief financial officer now owns 721,680 shares of the company’s stock, valued at $19,622,479.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Edward Johnson purchased 200,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were bought at an average price of $20.32 per share, with a total value of $4,064,000.00. Following the completion of the acquisition, the director now directly owns 1,300,730 shares of the company’s stock, valued at approximately $26,430,833.60. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 291,145 shares of company stock worth $7,647,143. Insiders own 2.85% of the company’s stock.

Exelixis Price Performance

Shares of EXEL opened at $25.88 on Monday. The firm has a 50 day simple moving average of $23.57 and a two-hundred day simple moving average of $22.65. Exelixis, Inc. has a one year low of $18.64 and a one year high of $27.53. The company has a market cap of $7.85 billion, a P/E ratio of 40.44, a P/E/G ratio of 0.60 and a beta of 0.54.

About Exelixis

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.