Retirement Systems of Alabama Decreases Stake in Exelixis, Inc. (NASDAQ:EXEL)

Retirement Systems of Alabama decreased its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 891,331 shares of the biotechnology company's stock after selling 20,894 shares during the period. Retirement Systems of Alabama owned about 0.32% of Exelixis worth $32,908,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in EXEL. Blue Trust Inc. boosted its stake in shares of Exelixis by 15.5% in the first quarter. Blue Trust Inc. now owns 12,976 shares of the biotechnology company's stock valued at $479,000 after buying an additional 1,745 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in Exelixis by 33.4% in the first quarter. CWA Asset Management Group LLC now owns 36,281 shares of the biotechnology company's stock valued at $1,339,000 after acquiring an additional 9,080 shares during the period. Mezzasalma Advisors LLC acquired a new stake in Exelixis in the first quarter valued at $1,870,000. QRG Capital Management Inc. boosted its position in shares of Exelixis by 6.2% during the 1st quarter. QRG Capital Management Inc. now owns 62,564 shares of the biotechnology company's stock worth $2,310,000 after purchasing an additional 3,636 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Exelixis by 13.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 37,778 shares of the biotechnology company's stock worth $1,395,000 after purchasing an additional 4,482 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EXEL. HC Wainwright reiterated a "buy" rating and issued a $47.00 price target (up previously from $40.00) on shares of Exelixis in a report on Thursday, June 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $41.00 target price on shares of Exelixis in a report on Thursday, April 17th. Citigroup lifted their price target on shares of Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Bank of America boosted their price target on 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 downgraded Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Exelixis presently has a consensus rating of "Moderate Buy" and an average price target of $39.76.

Insider Buying and Selling at Exelixis

In related news, CFO Christopher J. Senner sold 100,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $46.00, for a total value of $4,600,000.00. Following the completion of the sale, the chief financial officer now directly owns 967,842 shares in the company, valued at approximately $44,520,732. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 1,508 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $39.00, for a total transaction of $58,812.00. Following the transaction, the executive vice president now directly owns 693,181 shares of the company's stock, valued at $27,034,059. This trade represents a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 458,113 shares of company stock worth $21,024,817. Insiders own 2.82% of the company's stock.

Exelixis Stock Down 0.9%

Shares of EXEL traded down $0.37 during trading hours on Friday, reaching $40.37. 6,762,863 shares of the company traded hands, compared to its average volume of 2,376,652. The stock has a market capitalization of $11.01 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 0.82 and a beta of 0.28. The stock has a fifty day simple moving average of $40.30 and a 200 day simple moving average of $37.05. Exelixis, Inc. has a fifty-two week low of $21.82 and a fifty-two week high of $48.85.

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.