Laird Norton Wetherby Wealth Management LLC Takes $234,000 Position in Exelixis, Inc. (NASDAQ:EXEL)

Laird Norton Wetherby Wealth Management LLC bought a new stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,015 shares of the biotechnology company's stock, valued at approximately $234,000.

A number of other institutional investors also recently modified their holdings of EXEL. Invesco Ltd. raised its stake in shares of Exelixis by 308.1% in the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company's stock valued at $132,376,000 after acquiring an additional 3,001,204 shares during the last quarter. Norges Bank bought a new position in Exelixis in the 4th quarter worth approximately $94,867,000. Caisse DE Depot ET Placement DU Quebec raised its position in 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 purchasing an additional 1,907,167 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in 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 purchasing an additional 1,613,482 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Exelixis by 25.7% in the 4th 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 during the last quarter. Institutional investors own 85.27% of the company's stock.

Analyst Upgrades and Downgrades

EXEL has been the subject of several research analyst reports. UBS Group restated an "underperform" rating on shares of Exelixis in a research report on Thursday, April 17th. Piper Sandler boosted their price objective on shares of Exelixis from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. HC Wainwright restated a "buy" rating and issued a $40.00 price objective on shares of Exelixis in a research report on Thursday, March 27th. Truist Financial boosted their price objective on shares of Exelixis from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, Oppenheimer cut shares of Exelixis from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.76.

Exelixis Stock Down 1.9%

EXEL opened at $45.40 on Friday. Exelixis, Inc. has a 12 month low of $20.14 and a 12 month high of $48.85. The company has a fifty day simple moving average of $37.23 and a 200 day simple moving average of $35.82. The stock has a market cap of $12.51 billion, a P/E ratio of 25.65, a P/E/G ratio of 1.13 and a beta of 0.25.

Insider Activity at Exelixis

In related news, EVP Patrick J. Haley sold 126,383 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $47.96, for a total value of $6,061,328.68. Following the completion of the sale, the executive vice president now owns 446,459 shares in the company, valued at $21,412,173.64. This represents a 22.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Amy C. Peterson sold 72,776 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $45.47, for a total transaction of $3,309,124.72. Following the completion of the sale, the chief marketing officer now owns 465,393 shares of the company's stock, valued at approximately $21,161,419.71. This represents a 13.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 520,942 shares of company stock worth $22,930,002 in the last quarter. Corporate insiders own 2.82% of the company's stock.

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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