Fifth Third Bancorp Purchases 780 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Fifth Third Bancorp lifted its position in shares of Exelixis, Inc. (NASDAQ:EXEL) by 24.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,011 shares of the biotechnology company’s stock after purchasing an additional 780 shares during the period. Fifth Third Bancorp’s holdings in Exelixis were worth $148,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Exelixis during the fourth quarter valued at about $17,046,000. Proficio Capital Partners LLC bought a new position in shares of Exelixis during the fourth quarter valued at about $706,000. Wells Fargo & Company MN lifted its position in shares of Exelixis by 1,637.9% during the fourth quarter. Wells Fargo & Company MN now owns 746,286 shares of the biotechnology company’s stock valued at $24,851,000 after purchasing an additional 703,343 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Exelixis by 958.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,942 shares of the biotechnology company’s stock valued at $99,000 after purchasing an additional 2,664 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Exelixis by 10.6% during the first quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company’s stock valued at $272,000 after purchasing an additional 707 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Jack L. Wyszomierski sold 7,535 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total value of $324,683.15. Following the completion of the transaction, the director now directly owns 358,882 shares in the company, valued at approximately $15,464,225.38. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 1,508 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $39.00, for a total transaction of $58,812.00. Following the completion of the transaction, the executive vice president now owns 693,181 shares of the company’s stock, valued at $27,034,059. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 458,113 shares of company stock worth $21,024,817. 2.82% of the stock is owned by company insiders.

Analyst Ratings Changes

EXEL has been the subject of a number of research analyst reports. Wells Fargo & Company restated a “market outperform” rating on shares of Exelixis in a report on Thursday, April 17th. JMP Securities restated a “market outperform” rating and set a $41.00 price objective on shares of Exelixis in a report on Thursday, April 17th. Stifel Nicolaus raised their price objective on shares of Exelixis from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, May 14th. Wall Street Zen downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 15th. Finally, UBS Group restated an “underperform” rating on shares of Exelixis in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.76.

Exelixis Stock Down 1.5%

EXEL opened at $40.74 on Friday. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.83 and a beta of 0.28. The firm has a 50-day moving average price of $40.20 and a 200-day moving average price of $37.01. Exelixis, Inc. has a twelve month low of $21.36 and a twelve month high of $48.85.

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.