Longboard Asset Management LP Takes $245,000 Position in Exelixis, Inc. (NASDAQ:EXEL)

Longboard Asset Management LP bought a new position in Exelixis, Inc. (NASDAQ:EXEL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,364 shares of the biotechnology company’s stock, valued at approximately $245,000. Exelixis accounts for 0.6% of Longboard Asset Management LP’s investment portfolio, making the stock its 25th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Exelixis in the 3rd quarter valued at $30,000. USA Financial Formulas bought a new stake in Exelixis during the fourth quarter worth about $32,000. Brooklyn Investment Group acquired a new stake in shares of Exelixis during the third quarter worth approximately $42,000. UMB Bank n.a. raised its stake in shares of Exelixis by 68.4% in the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 553 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Exelixis in the 3rd quarter worth approximately $61,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Trading Down 0.8 %

Shares of EXEL opened at $32.88 on Tuesday. The stock has a market cap of $9.39 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. The stock’s 50-day moving average price is $34.61 and its two-hundred day moving average price is $30.26. Exelixis, Inc. has a 1 year low of $20.01 and a 1 year high of $37.59.

Wall Street Analysts Forecast Growth

EXEL has been the subject of a number of recent analyst reports. Stephens reaffirmed an “equal weight” rating and set a $29.00 price target on shares of Exelixis in a report on Monday, January 27th. Piper Sandler upped their price target on shares of Exelixis from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Exelixis in a report on Monday, January 27th. Wells Fargo & Company boosted their target price on shares of Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Truist Financial increased their price target on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and an average target price of $36.06.

Insider Buying and Selling

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 10,000 shares of Exelixis 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 transaction, the executive vice president now owns 278,665 shares in the company, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,588 shares of company stock valued at $3,981,864 in the last 90 days. 2.85% of the stock is owned by insiders.

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.