Allspring Global Investments Holdings LLC Grows Stake in Exelixis, Inc. (NASDAQ:EXEL)

Allspring Global Investments Holdings LLC lifted its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,609,786 shares of the biotechnology company's stock after purchasing an additional 46,996 shares during the period. Allspring Global Investments Holdings LLC owned about 0.58% of Exelixis worth $58,580,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Coppell Advisory Solutions LLC purchased a new stake in shares of Exelixis during the fourth quarter worth about $25,000. Colonial Trust Co SC boosted its position in Exelixis by 616.9% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 765 shares during the last quarter. Bartlett & CO. Wealth Management LLC acquired a new position in Exelixis during the first quarter worth about $37,000. Crowley Wealth Management Inc. acquired a new position in Exelixis during the fourth quarter worth about $50,000. Finally, Hurley Capital LLC acquired a new position in Exelixis during the fourth quarter worth about $68,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Insider Buying and Selling

In other Exelixis news, CFO Christopher J. Senner sold 100,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $46.00, for a total value of $4,600,000.00. Following the sale, the chief financial officer now directly owns 967,842 shares of the company's stock, valued at approximately $44,520,732. This represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Dana Aftab sold 1,508 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $39.00, for a total transaction of $58,812.00. Following the completion of the sale, the executive vice president now directly owns 693,181 shares in the company, valued at approximately $27,034,059. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 458,113 shares of company stock valued at $21,024,817 in the last ninety days. Company insiders own 2.85% of the company's stock.

Exelixis Stock Up 1.3%

Shares of EXEL opened at $43.67 on Monday. Exelixis, Inc. has a fifty-two week low of $21.82 and a fifty-two week high of $94.40. The firm's 50 day moving average price is $41.07 and its 200 day moving average price is $37.36. The company has a market cap of $11.91 billion, a P/E ratio of 19.85, a PEG ratio of 0.88 and a beta of 0.28.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on EXEL shares. Bank of America boosted their price target on shares of Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Truist Financial restated a "buy" rating and set a $55.00 price target (up from $43.00) on shares of Exelixis in a research report on Monday, June 23rd. Wells Fargo & Company restated a "market outperform" rating on shares of Exelixis in a research report on Thursday, April 17th. Citigroup boosted their target price on shares of Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, HC Wainwright reiterated a "buy" rating and issued a $47.00 target price (up from $40.00) on shares of Exelixis in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Exelixis currently has an average rating of "Moderate Buy" and a consensus price target of $43.22.

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.

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