Oak Associates Ltd. OH Sells 9,973 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Oak Associates Ltd. OH trimmed its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 86,544 shares of the biotechnology company's stock after selling 9,973 shares during the quarter. Oak Associates Ltd. OH's holdings in Exelixis were worth $2,882,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tri Ri Asset Management Corp bought a new position in Exelixis in the third quarter valued at approximately $4,396,000. Blue Trust Inc. boosted its position in Exelixis by 134.7% during the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock worth $476,000 after buying an additional 8,208 shares during the period. Range Financial Group LLC acquired a new stake in Exelixis in the fourth quarter valued at $994,000. Allspring Global Investments Holdings LLC increased its stake in shares of Exelixis by 82.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company's stock valued at $52,884,000 after buying an additional 704,786 shares during the period. Finally, Inspire Investing LLC raised its position in shares of Exelixis by 25.0% during the fourth quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company's stock worth $1,221,000 after acquiring an additional 7,331 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Christopher J. Senner sold 29,314 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the completion of the sale, the chief financial officer now directly owns 779,607 shares in the company, valued at $28,174,996.98. This represents a 3.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mary C. Beckerle sold 12,210 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $34.88, for a total value of $425,884.80. Following the completion of the sale, the director now directly owns 30,406 shares of the company's stock, valued at $1,060,561.28. The trade was a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,343 shares of company stock worth $5,177,234 in the last quarter. 2.85% of the stock is owned by company insiders.

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Exelixis Stock Up 2.2 %

EXEL stock traded up $0.80 during trading on Tuesday, reaching $36.54. The stock had a trading volume of 2,242,253 shares, compared to its average volume of 2,174,325. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 1.13 and a beta of 0.57. Exelixis, Inc. has a one year low of $20.14 and a one year high of $40.02. The company's 50 day moving average is $36.21 and its two-hundred day moving average is $34.08.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. HC Wainwright restated a "buy" rating and set a $40.00 price target on shares of Exelixis in a report on Thursday, March 27th. Morgan Stanley raised shares of Exelixis from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $30.00 to $40.00 in a research report on Monday, January 27th. Oppenheimer lowered Exelixis from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. BMO Capital Markets lowered Exelixis from an "outperform" rating to a "market perform" rating and upped their target price for the company from $36.00 to $40.00 in a research report on Friday, December 20th. Finally, Stifel Nicolaus lifted their target price on Exelixis from $30.00 to $36.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Exelixis presently has an average rating of "Moderate Buy" and a consensus target price of $37.59.

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.