BridgePort Financial Solutions LLC Takes $517,000 Position in Exelixis, Inc. $EXEL

BridgePort Financial Solutions LLC acquired a new position in Exelixis, Inc. (NASDAQ:EXEL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,521 shares of the biotechnology company’s stock, valued at approximately $517,000.

A number of other large investors also recently modified their holdings of the stock. Truist Financial Corp lifted its stake in Exelixis by 1.1% during the 2nd quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company’s stock valued at $983,000 after acquiring an additional 250 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Exelixis by 0.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock valued at $4,521,000 after purchasing an additional 274 shares in the last quarter. Richardson Financial Services Inc. boosted its holdings in Exelixis by 95.1% during the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 292 shares during the last quarter. Evergreen Capital Management LLC grew its position in Exelixis by 6.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company’s stock worth $225,000 after purchasing an additional 329 shares in the last quarter. Finally, Plato Investment Management Ltd increased its stake in Exelixis by 6.5% in the 2nd quarter. Plato Investment Management Ltd now owns 6,174 shares of the biotechnology company’s stock valued at $271,000 after buying an additional 377 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EXEL. Stifel Nicolaus set a $43.00 target price on Exelixis in a report on Wednesday, November 5th. Guggenheim cut Exelixis from a “buy” rating to a “neutral” rating in a research note on Monday, November 3rd. HC Wainwright restated a “buy” rating and set a $52.00 price objective on shares of Exelixis in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research note on Thursday, January 22nd. Finally, Bank of America lowered shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price target for the company. in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Exelixis currently has an average rating of “Hold” and a consensus target price of $46.16.

Exelixis Stock Performance

Shares of NASDAQ EXEL opened at $43.95 on Tuesday. The stock has a fifty day moving average of $43.70 and a 200-day moving average of $40.94. The stock has a market cap of $11.78 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 0.74 and a beta of 0.42. Exelixis, Inc. has a fifty-two week low of $32.38 and a fifty-two week high of $49.62.

Insider Buying and Selling at Exelixis

In other news, Director Stelios Papadopoulos sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total transaction of $4,355,000.00. Following the completion of the transaction, the director owned 1,189,228 shares of the company’s stock, valued at approximately $51,790,879.40. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 28,043 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $42.58, for a total transaction of $1,194,070.94. Following the completion of the sale, the executive vice president directly owned 374,029 shares in the company, valued at $15,926,154.82. This represents a 6.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 172,230 shares of company stock valued at $7,401,923 in the last three months. 2.85% of the stock is owned by corporate insiders.

Exelixis Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.