California Public Employees Retirement System Lowers Holdings in Exelixis, Inc. (NASDAQ:EXEL)

California Public Employees Retirement System trimmed its position in Exelixis, Inc. (NASDAQ:EXELGet Rating) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 595,286 shares of the biotechnology company’s stock after selling 12,792 shares during the quarter. California Public Employees Retirement System owned 0.19% of Exelixis worth $12,394,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its holdings in shares of Exelixis by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 31,310 shares of the biotechnology company’s stock worth $709,000 after buying an additional 800 shares during the period. Total Clarity Wealth Management Inc. bought a new position in shares of Exelixis in the 2nd quarter worth $36,000. State of Tennessee Treasury Department raised its position in shares of Exelixis by 143.1% in the 1st quarter. State of Tennessee Treasury Department now owns 339,804 shares of the biotechnology company’s stock worth $7,703,000 after acquiring an additional 200,000 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Exelixis by 7.7% in the 1st quarter. Teacher Retirement System of Texas now owns 65,273 shares of the biotechnology company’s stock worth $1,480,000 after acquiring an additional 4,644 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Exelixis by 80.5% in the 1st quarter. Victory Capital Management Inc. now owns 114,199 shares of the biotechnology company’s stock worth $2,551,000 after acquiring an additional 50,919 shares in the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank of Canada reduced their price target on Exelixis from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, November 2nd. TheStreet lowered Exelixis from a “b-” rating to a “c+” rating in a research report on Tuesday, September 13th. Cowen reduced their target price on Exelixis from $26.00 to $21.00 in a research report on Wednesday, November 2nd. Cowen reduced their target price on Exelixis from $26.00 to $21.00 in a research report on Wednesday, November 2nd. Finally, Piper Sandler upped their target price on Exelixis from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, July 26th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.70.

Insider Transactions at Exelixis

In other news, EVP Patrick J. Haley sold 40,000 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $17.94, for a total value of $717,600.00. Following the sale, the executive vice president now owns 261,591 shares in the company, valued at $4,692,942.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.

Exelixis Stock Performance

Shares of EXEL stock opened at $16.91 on Monday. Exelixis, Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $23.40. The firm has a market capitalization of $5.45 billion, a PE ratio of 17.80, a P/E/G ratio of 0.82 and a beta of 0.70. The stock’s 50-day simple moving average is $16.41 and its 200-day simple moving average is $18.58.

About Exelixis

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Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines 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.

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Institutional Ownership by Quarter for Exelixis (NASDAQ:EXEL)

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