Wealth Enhancement Advisory Services LLC Sells 76,705 Shares of Exelixis, Inc. (NASDAQ:EXEL)

Wealth Enhancement Advisory Services LLC lessened its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 53.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 66,842 shares of the biotechnology company’s stock after selling 76,705 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Exelixis were worth $2,226,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of EXEL. Coppell Advisory Solutions LLC bought a new stake in Exelixis during the fourth quarter valued at about $25,000. Colonial Trust Co SC grew its holdings in Exelixis by 616.9% during the fourth 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 during the period. Principal Securities Inc. grew its holdings in Exelixis by 62.8% during the fourth 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 period. Kestra Investment Management LLC bought a new stake in Exelixis during the fourth quarter valued at about $39,000. Finally, Crowley Wealth Management Inc. bought a new stake in Exelixis during the fourth quarter valued at about $50,000. Institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling

In other Exelixis news, Director Sue Gail Eckhardt sold 18,838 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $42.74, for a total transaction of $805,136.12. Following the sale, the director now directly owns 21,380 shares in the company, valued at $913,781.20. This represents a 46.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jack L. Wyszomierski sold 7,535 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total value of $324,683.15. Following the sale, the director now owns 358,882 shares in the company, valued at approximately $15,464,225.38. This trade represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 458,113 shares of company stock worth $21,024,817. Corporate insiders own 2.85% of the company’s stock.

Exelixis Trading Up 0.4%

NASDAQ:EXEL opened at $42.37 on Friday. The company has a market capitalization of $11.55 billion, a P/E ratio of 23.94, a P/E/G ratio of 1.13 and a beta of 0.28. Exelixis, Inc. has a 12 month low of $21.36 and a 12 month high of $48.85. The business’s 50-day moving average is $38.90 and its 200 day moving average is $36.58.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EXEL. Citigroup boosted their price target on Exelixis from $45.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, May 15th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Exelixis in a research note on Thursday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $47.00 price objective (up previously from $40.00) on shares of Exelixis in a research note on Wednesday, May 14th. Piper Sandler upped their price objective on Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Barclays upped their price objective on Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.35.

Exelixis 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.