Bank of America Corp DE Has $40.45 Million Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Bank of America Corp DE raised its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,214,689 shares of the biotechnology company's stock after purchasing an additional 86,307 shares during the quarter. Bank of America Corp DE owned about 0.43% of Exelixis worth $40,449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its position in Exelixis by 134.7% in the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company's stock valued at $476,000 after buying an additional 8,208 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Exelixis in the 4th quarter valued at approximately $17,046,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Exelixis by 82.1% during the 4th 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 last quarter. Inspire Investing LLC grew 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 buying an additional 7,331 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Exelixis by 4.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 505,289 shares of the biotechnology company's stock worth $16,826,000 after buying an additional 22,225 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Buying and Selling at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 29,314 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.14, for a total value of $1,059,407.96. Following the transaction, the chief financial officer now owns 779,607 shares of the company's stock, valued at approximately $28,174,996.98. This represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Haley sold 126,383 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $47.96, for a total value of $6,061,328.68. Following the sale, the executive vice president now directly owns 446,459 shares in the company, valued at $21,412,173.64. This trade represents a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 520,942 shares of company stock valued at $22,930,002. Company insiders own 2.82% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on EXEL shares. Stephens reiterated an "equal weight" rating and set a $29.00 price objective on shares of Exelixis in a research note on Wednesday, February 12th. Barclays boosted their price objective on Exelixis from $25.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Stifel Nicolaus lifted their target price on Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a research report on Wednesday, May 14th. StockNews.com cut Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Exelixis in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Exelixis has a consensus rating of "Moderate Buy" and an average price target of $38.94.

Exelixis Trading Down 1.6%

EXEL traded down $0.71 during trading hours on Monday, hitting $44.69. The company's stock had a trading volume of 3,529,495 shares, compared to its average volume of 2,278,009. Exelixis, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $48.85. The company has a 50-day simple moving average of $37.23 and a 200 day simple moving average of $35.84. The firm has a market capitalization of $12.19 billion, a PE ratio of 25.25, a PEG ratio of 1.13 and a beta of 0.25.

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.