Teacher Retirement System of Texas Cuts Holdings in Exelixis, Inc. (NASDAQ:EXEL)

Teacher Retirement System of Texas reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,177 shares of the biotechnology company's stock after selling 6,840 shares during the quarter. Teacher Retirement System of Texas' holdings in Exelixis were worth $2,554,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of EXEL. Invesco Ltd. grew its holdings in shares of Exelixis by 308.1% during the 4th quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company's stock worth $132,376,000 after purchasing an additional 3,001,204 shares in the last quarter. Norges Bank acquired a new stake in shares of Exelixis during the 4th quarter worth $94,867,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Exelixis by 330.4% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,484,395 shares of the biotechnology company's stock worth $82,730,000 after purchasing an additional 1,907,167 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Exelixis by 104.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,159,395 shares of the biotechnology company's stock worth $105,208,000 after purchasing an additional 1,613,482 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Exelixis during the 4th quarter worth $30,321,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Trading Down 0.7%

Shares of EXEL stock traded down $0.31 during midday trading on Friday, reaching $44.86. 2,063,340 shares of the stock were exchanged, compared to its average volume of 2,521,006. Exelixis, Inc. has a 1 year low of $22.20 and a 1 year high of $49.62. The company's 50 day moving average is $42.42 and its two-hundred day moving average is $38.03. The firm has a market cap of $12.23 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.91 and a beta of 0.28.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 34,387 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $44.06, for a total value of $1,515,091.22. Following the sale, the executive vice president owned 412,072 shares in the company, valued at $18,155,892.32. This represents a 7.70% 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 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 value of $805,136.12. Following the completion of the sale, the director owned 21,380 shares in the company, valued at $913,781.20. The trade was a 46.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 458,113 shares of company stock worth $21,024,817 over the last three months. Corporate insiders own 2.82% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on EXEL shares. Truist Financial restated a "buy" rating and set a $55.00 price objective (up from $43.00) on shares of Exelixis in a research report on Monday, June 23rd. Stifel Nicolaus upped their price objective on Exelixis from $36.00 to $38.00 and gave the stock a "hold" rating in a research report on Wednesday, May 14th. Citigroup upped their price objective on Exelixis from $45.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen downgraded Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, Benchmark reiterated a "neutral" rating on shares of Exelixis in a research report on Monday, June 23rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Exelixis currently has an average rating of "Moderate Buy" and an average price target of $44.72.

Exelixis Company 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.