New York State Teachers Retirement System Trims Stock Holdings in Exelixis, Inc. (NASDAQ:EXEL)

New York State Teachers Retirement System cut its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 12.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 359,105 shares of the biotechnology company's stock after selling 52,707 shares during the period. New York State Teachers Retirement System owned approximately 0.13% of Exelixis worth $13,258,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Monument Capital Management purchased a new position in shares of Exelixis during the first quarter worth $3,047,000. KBC Group NV lifted its holdings in shares of Exelixis by 63.8% in the 1st quarter. KBC Group NV now owns 17,221 shares of the biotechnology company's stock valued at $636,000 after buying an additional 6,707 shares during the period. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Exelixis in the first quarter worth about $1,840,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Exelixis by 3.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,609,786 shares of the biotechnology company's stock worth $58,580,000 after buying an additional 46,996 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in Exelixis during the first quarter worth about $37,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Stock Performance

Shares of NASDAQ EXEL traded up $1.61 during mid-day trading on Friday, reaching $45.91. The company's stock had a trading volume of 6,040,447 shares, compared to its average volume of 2,496,550. The stock has a 50-day moving average of $41.88 and a two-hundred day moving average of $37.71. The stock has a market capitalization of $12.52 billion, a P/E ratio of 20.87, a P/E/G ratio of 0.93 and a beta of 0.28. Exelixis, Inc. has a 1-year low of $21.86 and a 1-year high of $49.62.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $47.00 price objective (up previously from $40.00) on shares of Exelixis in a research note on Wednesday, May 14th. Truist Financial restated a "buy" rating and set a $55.00 price target (up previously from $43.00) on shares of Exelixis in a research report on Monday, June 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $40.00 price objective on shares of Exelixis in a research report on Wednesday, May 14th. Bank of America increased their target price on shares of Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. Finally, Wall Street Zen lowered Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.56.

Insider Buying and Selling

In other news, CMO Amy C. Peterson sold 72,776 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $45.47, for a total value of $3,309,124.72. Following the completion of the sale, the chief marketing officer owned 465,393 shares of the company's stock, valued at $21,161,419.71. This represents a 13.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sue Gail Eckhardt sold 18,838 shares of Exelixis stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $42.74, for a total transaction of $805,136.12. Following the sale, the director directly owned 21,380 shares in the company, valued at approximately $913,781.20. The trade was a 46.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 458,113 shares of company stock worth $21,024,817 over the last quarter. Corporate insiders own 2.85% of the company's stock.

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.