BlackRock Inc. disclosed a substantial new stake in Exelixis on August 21, 2026.
The asset management firm purchased 29.1 million shares. This acquisition is worth approximately $1.58 billion. BlackRock now holds an 11.57% ownership stake in the biotechnology company.
The investment follows recent stock volatility after the company's latest earnings report. Other firms, including NewEdge Wealth LLC and NFJ Investment Group LLC, also disclosed smaller new positions. Institutional investors now collectively own 85.27% of Exelixis stock.