Wellington Management Group LLP Has $6.37 Million Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Wellington Management Group LLP lessened its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 33.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 245,342 shares of the biotechnology company's stock after selling 124,537 shares during the period. Wellington Management Group LLP owned 0.09% of Exelixis worth $6,367,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Exelixis during the third quarter valued at approximately $30,000. Brooklyn Investment Group bought a new position in Exelixis during the 3rd quarter valued at $42,000. Capital Performance Advisors LLP acquired a new position in shares of Exelixis during the 3rd quarter valued at $61,000. Essex Investment Management Co. LLC bought a new stake in shares of Exelixis in the 3rd quarter worth $74,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Exelixis by 50.0% in the third quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company's stock valued at $78,000 after buying an additional 1,004 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Analyst Ratings Changes

EXEL has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Exelixis from $32.00 to $36.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Stephens lifted their price objective on shares of Exelixis from $23.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Guggenheim raised their target price on shares of Exelixis from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Truist Financial lifted their price target on shares of Exelixis from $33.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $34.00 price objective on shares of Exelixis in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $31.88.

Exelixis Stock Down 3.8 %

Shares of Exelixis stock traded down $1.38 on Tuesday, hitting $34.69. 2,235,182 shares of the company traded hands, compared to its average volume of 2,054,013. Exelixis, Inc. has a 12-month low of $19.20 and a 12-month high of $36.97. The company has a market cap of $9.91 billion, a PE ratio of 22.24, a PEG ratio of 0.89 and a beta of 0.52. The company has a 50-day moving average price of $33.04 and a 200 day moving average price of $27.38.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business's quarterly revenue was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that Exelixis, Inc. will post 1.69 EPS for the current year.

Insider Activity at Exelixis

In related news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $28.39, for a total value of $709,750.00. Following the transaction, the executive vice president now directly owns 580,325 shares of the company's stock, valued at approximately $16,475,426.75. This trade represents a 4.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Poste sold 30,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the sale, the director now directly owns 169,020 shares of the company's stock, valued at $5,746,680. The trade was a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 339,736 shares of company stock valued at $11,508,610. 2.85% of the stock is currently owned by corporate insiders.

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.