Impact Partnership Wealth LLC Makes New $270,000 Investment in Exelixis, Inc. (NASDAQ:EXEL)

Impact Partnership Wealth LLC bought a new position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 7,307 shares of the biotechnology company's stock, valued at approximately $270,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Exelixis by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company's stock valued at $979,994,000 after acquiring an additional 121,750 shares during the last quarter. LSV Asset Management increased its position in shares of Exelixis by 0.8% during the fourth quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company's stock worth $272,056,000 after purchasing an additional 67,470 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Exelixis by 10.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,630,940 shares of the biotechnology company's stock worth $254,110,000 after purchasing an additional 708,312 shares in the last quarter. Invesco Ltd. increased its position in shares of 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 purchasing an additional 3,001,204 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Exelixis by 25.7% during the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company's stock worth $132,101,000 after purchasing an additional 810,857 shares in the last quarter. Institutional investors own 85.27% of the company's stock.

Insiders Place Their Bets

In related news, CMO Amy C. Peterson sold 72,776 shares of Exelixis stock in a transaction on Friday, May 16th. The stock was sold at an average price of $45.47, for a total value of $3,309,124.72. Following the completion of the sale, the chief marketing officer owned 465,393 shares of the company's stock, valued at $21,161,419.71. The trade was a 13.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Senner sold 100,000 shares of Exelixis stock in a transaction on Friday, May 16th. The stock was sold at an average price of $46.00, for a total value of $4,600,000.00. Following the completion of the sale, the chief financial officer directly owned 967,842 shares of the company's stock, valued at $44,520,732. The trade was a 9.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 458,113 shares of company stock worth $21,024,817. 2.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on EXEL. Morgan Stanley reaffirmed an "overweight" rating and set a $47.00 price objective (up previously from $40.00) on shares of Exelixis in a research report on Wednesday, May 14th. UBS Group set a $43.00 price objective on shares of Exelixis and gave the stock a "neutral" rating in a research report on Friday, July 11th. Bank of America increased their price objective 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. Stephens upgraded shares of Exelixis from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $29.00 to $60.00 in a report on Tuesday, June 24th. Finally, Citigroup increased their target price on shares of Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.28.

Exelixis Price Performance

Shares of NASDAQ EXEL traded down $0.21 during trading on Monday, reaching $44.26. 1,796,448 shares of the stock traded hands, compared to its average volume of 2,535,034. Exelixis, Inc. has a 52-week low of $22.20 and a 52-week high of $49.62. The company has a 50-day moving average of $43.17 and a 200-day moving average of $38.47. The stock has a market capitalization of $12.07 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 0.89 and a beta of 0.28.

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.