Engineers Gate Manager LP Reduces Position in Exelixis, Inc. $EXEL

Engineers Gate Manager LP cut its holdings in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 32.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,353 shares of the biotechnology company's stock after selling 53,074 shares during the quarter. Engineers Gate Manager LP's holdings in Exelixis were worth $6,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors bought a new position in Exelixis in the first quarter worth about $476,000. Corient Private Wealth LP purchased a new position in shares of Exelixis during the 2nd quarter worth approximately $4,324,000. L2 Asset Management LLC bought a new position in shares of Exelixis in the 2nd quarter worth approximately $6,839,000. Stephens Investment Management Group LLC raised its position in shares of Exelixis by 1.1% in the 4th quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company's stock worth $111,303,000 after acquiring an additional 28,265 shares in the last quarter. Finally, JLB & Associates Inc. purchased a new position in shares of Exelixis in the 2nd quarter valued at approximately $2,658,000. Hedge funds and other institutional investors own 85.27% of the company's stock.

Exelixis Stock Down 2.3%

NASDAQ:EXEL opened at $56.12 on Friday. The stock has a market cap of $13.91 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.71 and a beta of 0.42. The company's 50 day moving average price is $55.35 and its 200-day moving average price is $49.98. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $59.72.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The business had revenue of $628.69 million for the quarter, compared to analysts' expectations of $636.40 million. During the same period in the prior year, the firm posted $0.75 EPS. The firm's quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Exelixis, Inc. will post 3.19 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Truist Financial reduced their price target on Exelixis from $56.00 to $52.00 and set a "hold" rating on the stock in a research note on Thursday, August 6th. Weiss Ratings raised Exelixis from a "buy (b)" rating to a "buy (a-)" rating in a research report on Tuesday, August 11th. Wells Fargo & Company upped their target price on shares of Exelixis from $40.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Monday, July 13th. Citizens Jmp increased their price target on shares of Exelixis from $50.00 to $55.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 24th. Finally, Morgan Stanley lifted their price target on shares of Exelixis from $50.00 to $53.00 and gave the company an "equal weight" rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $50.07.

Insider Activity at Exelixis

In other news, Director Mary Beckerle sold 9,812 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director directly owned 16,079 shares of the company's stock, valued at $862,799.14. The trade was a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by corporate insiders.

More Exelixis News

Here are the key news stories impacting Exelixis this week:

• Neutral Sentiment: The FDA extended its review of Exelixis’ application for zanzalintinib in combination with atezolizumab for patients with metastatic colorectal cancer by three months. The new decision target is March 2027. The extension does not indicate a rejection, but it delays regulatory clarity. U.S. FDA extends review of Exelixis' cancer drug
• Negative Sentiment: The delayed decision pushes back the potential launch and commercial ramp of zanzalintinib in colorectal cancer, reducing near-term visibility for investors and contributing to concern about Exelixis’ revenue outlook. Analysts are also assessing the effect of the announcement on stock volatility. Exelixis Stock Slips as FDA Delays Cancer Drug Review, Analyst Weighs In
• Neutral Sentiment: The FDA action follows Exelixis’ broader investor presentation and legal developments, but the reports provide no new change to the company’s existing earnings outlook or indication of a problem with its currently marketed products. Exelixis Presents at Citigroup's Biopharma Back to School Summit 2026

Exelixis Company Profile

Exelixis, Inc NASDAQ: EXEL is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company's research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and progression.

Exelixis' principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with advanced renal cell carcinoma, hepatocellular carcinoma and radioactive iodine-refractory differentiated thyroid cancer.

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