Empowered Funds LLC Purchases Shares of 223,879 Exelixis, Inc. (NASDAQ:EXEL)

Empowered Funds LLC acquired a new stake in Exelixis, Inc. (NASDAQ:EXEL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 223,879 shares of the biotechnology company’s stock, valued at approximately $7,455,000. Empowered Funds LLC owned 0.08% of Exelixis at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of EXEL. USA Financial Formulas purchased a new position in Exelixis during the 4th quarter valued at about $32,000. V Square Quantitative Management LLC purchased a new position in shares of Exelixis during the third quarter valued at approximately $30,000. UMB Bank n.a. increased its stake in shares of Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 553 shares during the period. Brooklyn Investment Group bought a new position in shares of Exelixis during the third quarter valued at approximately $42,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Exelixis by 18.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 290 shares during the period. 85.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the sale, the executive vice president now owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,588 shares of company stock valued at $3,981,864. Corporate insiders own 2.85% of the company’s stock.

Exelixis Stock Performance

Shares of Exelixis stock opened at $33.50 on Tuesday. The company has a 50-day simple moving average of $34.35 and a two-hundred day simple moving average of $30.64. The stock has a market capitalization of $9.57 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. Exelixis, Inc. has a 52-week low of $20.01 and a 52-week high of $37.59.

Analyst Ratings Changes

EXEL has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of Exelixis from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. UBS Group increased their price target on shares of Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. BMO Capital Markets cut Exelixis from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $36.00 to $40.00 in a research report on Friday, December 20th. Truist Financial increased their target price on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company raised their target price on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.06.

Exelixis Company 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.