Edgestream Partners L.P. Sells 67,056 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Edgestream Partners L.P. reduced its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 60.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,237 shares of the biotechnology company's stock after selling 67,056 shares during the quarter. Edgestream Partners L.P.'s holdings in Exelixis were worth $1,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Invesco Ltd. grew its position in Exelixis by 308.1% during the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company's stock worth $132,376,000 after buying an additional 3,001,204 shares in the last quarter. Norges Bank bought a new position in Exelixis during the 4th quarter valued at approximately $94,867,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Exelixis by 330.4% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company's stock worth $82,730,000 after acquiring an additional 1,907,167 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Exelixis by 104.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company's stock worth $105,208,000 after acquiring an additional 1,613,482 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Exelixis in the 4th quarter worth approximately $30,321,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 126,383 shares of Exelixis stock in a transaction dated 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 completion of the transaction, the executive vice president owned 446,459 shares in the company, valued at approximately $21,412,173.64. This trade represents a 22.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stelios Papadopoulos sold 36,508 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $44.35, for a total value of $1,619,129.80. Following the transaction, the director owned 1,279,416 shares of the company's stock, valued at $56,742,099.60. This trade represents a 2.77% decrease in their position. 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 quarter. 2.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

EXEL has been the topic of several research analyst reports. Wells Fargo & Company reissued a "market outperform" rating on shares of Exelixis in a report on Thursday, April 17th. Morgan Stanley reissued an "overweight" rating and set a $47.00 price target (up from $40.00) on shares of Exelixis in a report on Wednesday, May 14th. JMP Securities increased their price target on Exelixis from $47.00 to $50.00 and gave the company a "market outperform" rating in a report on Monday, June 23rd. Barclays increased their price target on Exelixis from $29.00 to $40.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Finally, Citigroup raised their target price on Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $45.28.

Exelixis Stock Down 0.9%

EXEL traded down $0.40 on Friday, hitting $44.47. The company had a trading volume of 1,772,167 shares, compared to its average volume of 2,537,999. The company has a market cap of $12.13 billion, a PE ratio of 20.21, a PEG ratio of 0.89 and a beta of 0.28. Exelixis, Inc. has a 12-month low of $22.20 and a 12-month high of $49.62. The business's fifty day simple moving average is $43.17 and its 200 day simple moving average is $38.44.

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.