Exelixis, Inc. (NASDAQ:EXEL) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in Exelixis, Inc. (NASDAQ:EXEL) by 23.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 248,073 shares of the biotechnology company’s stock after buying an additional 47,845 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.09% of Exelixis worth $9,159,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in EXEL. Coppell Advisory Solutions LLC acquired a new stake in shares of Exelixis during the 4th quarter worth about $25,000. Colonial Trust Co SC raised its position in shares of Exelixis by 616.9% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 765 shares in the last quarter. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Exelixis during the 1st quarter worth about $37,000. Crowley Wealth Management Inc. acquired a new stake in shares of Exelixis during the 4th quarter worth about $50,000. Finally, Hurley Capital LLC acquired a new stake in shares of Exelixis during the 4th quarter worth about $68,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Exelixis

In related news, CMO Amy C. Peterson sold 72,776 shares of Exelixis stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $45.47, for a total value of $3,309,124.72. Following the completion of the transaction, the chief marketing officer directly owned 465,393 shares in the company, valued at approximately $21,161,419.71. The trade was a 13.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sue Gail Eckhardt sold 18,838 shares of Exelixis stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $42.74, for a total transaction of $805,136.12. Following the completion of the transaction, the director owned 21,380 shares of the company’s stock, valued at $913,781.20. This represents a 46.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 458,113 shares of company stock worth $21,024,817. Company insiders own 2.85% of the company’s stock.

Exelixis Price Performance

Shares of EXEL opened at $44.26 on Tuesday. The stock has a 50-day moving average of $43.17 and a 200-day moving average of $38.47. The company has a market cap of $12.07 billion, a PE ratio of 20.12, a P/E/G ratio of 0.89 and a beta of 0.28. Exelixis, Inc. has a one year low of $22.20 and a one year high of $49.62.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EXEL shares. JMP Securities boosted their price target on Exelixis from $47.00 to $50.00 and gave the stock a “market outperform” rating in a report on Monday, June 23rd. Citigroup boosted their price target on Exelixis from $45.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Truist Financial boosted their price target on Exelixis from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, July 15th. Wells Fargo & Company reiterated a “market outperform” rating on shares of Exelixis in a research note on Thursday, April 17th. Finally, Bank of America upped their target price on Exelixis from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.28.

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.