Wellington Management Group LLP Cuts Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Wellington Management Group LLP reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 43.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 138,408 shares of the biotechnology company's stock after selling 106,934 shares during the period. Wellington Management Group LLP's holdings in Exelixis were worth $4,609,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Coppell Advisory Solutions LLC bought a new position in Exelixis during the fourth quarter valued at approximately $25,000. Colonial Trust Co SC boosted its stake in shares of Exelixis by 616.9% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after purchasing an additional 765 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 373 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Exelixis in the 4th quarter worth $39,000. Finally, Crowley Wealth Management Inc. purchased a new position in Exelixis in the 4th quarter worth $50,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on EXEL. UBS Group restated an "underperform" rating on shares of Exelixis in a research report on Thursday, April 17th. Citigroup increased their target price on Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Wall Street Zen downgraded Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Guggenheim set a $45.00 price objective on Exelixis and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, JMP Securities restated a "market outperform" rating and issued a $41.00 target price on shares of Exelixis in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $39.35.

Insiders Place Their Bets

In other news, EVP Dana Aftab sold 1,508 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $39.00, for a total value of $58,812.00. Following the sale, the executive vice president now directly owns 693,181 shares of the company's stock, valued at approximately $27,034,059. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Patrick J. Haley sold 34,387 shares of Exelixis stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $44.06, for a total value of $1,515,091.22. Following the completion of the transaction, the executive vice president now directly owns 412,072 shares of the company's stock, valued at approximately $18,155,892.32. This represents a 7.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 458,113 shares of company stock worth $21,024,817. 2.85% of the stock is currently owned by company insiders.

Exelixis Stock Performance

Shares of Exelixis stock traded up $0.66 during trading on Friday, hitting $43.03. The company's stock had a trading volume of 2,336,895 shares, compared to its average volume of 2,331,064. Exelixis, Inc. has a 52 week low of $21.36 and a 52 week high of $48.85. The company has a market capitalization of $11.73 billion, a PE ratio of 24.31, a P/E/G ratio of 1.13 and a beta of 0.28. The company has a fifty day simple moving average of $38.90 and a two-hundred day simple moving average of $36.58.

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.