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

Retirement Systems of Alabama reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 891,331 shares of the biotechnology company’s stock after selling 20,894 shares during the quarter. Retirement Systems of Alabama owned about 0.32% of Exelixis worth $32,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Tallon Kerry Patrick purchased a new position in shares of Exelixis in the fourth quarter valued at $2,619,000. Principal Securities Inc. grew its holdings in shares of Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 373 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Exelixis by 82.0% in the fourth quarter. Sanctuary Advisors LLC now owns 71,444 shares of the biotechnology company’s stock valued at $2,353,000 after purchasing an additional 32,183 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Exelixis by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 9,210 shares of the biotechnology company’s stock valued at $307,000 after purchasing an additional 452 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Exelixis by 31.7% in the fourth quarter. Truist Financial Corp now owns 18,169 shares of the biotechnology company’s stock valued at $605,000 after purchasing an additional 4,378 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Exelixis

In other news, EVP Dana Aftab sold 1,508 shares of the firm’s stock in a transaction 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 owns 693,181 shares in the company, valued at approximately $27,034,059. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jack L. Wyszomierski sold 7,535 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total value of $324,683.15. Following the transaction, the director now owns 358,882 shares in the company, valued at approximately $15,464,225.38. This represents a 2.06% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 458,113 shares of company stock worth $21,024,817. 2.82% of the stock is currently owned by insiders.

Exelixis Trading Down 0.9%

NASDAQ:EXEL opened at $40.37 on Friday. Exelixis, Inc. has a twelve month low of $21.82 and a twelve month high of $48.85. The company has a market cap of $11.01 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 0.83 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 $37.04.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EXEL. UBS Group reissued an “underperform” rating on shares of Exelixis in a report on Thursday, April 17th. JMP Securities reissued a “market outperform” rating and issued a $41.00 target price on shares of Exelixis in a report on Thursday, April 17th. Bank of America raised their target price on shares of Exelixis from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, June 5th. HC Wainwright restated a “buy” rating and issued a $47.00 price target (up from $40.00) on shares of Exelixis in a research report on Thursday, June 12th. Finally, Citigroup raised their price target on Exelixis from $45.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.76.

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.