Engineers Gate Manager LP Sells 53,074 Shares of Exelixis, Inc. $EXEL

Engineers Gate Manager LP reduced its stake in shares of Exelixis, Inc. (NASDAQ:EXEL) by 32.5% during the second quarter, Holdings Channel reports. The institutional investor owned 110,353 shares of the biotechnology company’s stock after selling 53,074 shares during the period. Engineers Gate Manager LP’s holdings in Exelixis were worth $6,004,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EXEL. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Exelixis by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company’s stock valued at $2,549,000 after purchasing an additional 281 shares during the period. Meeder Advisory Services Inc. grew its position in shares of Exelixis by 5.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock valued at $237,000 after purchasing an additional 298 shares in the last quarter. Cim LLC increased its holdings in shares of Exelixis by 0.9% in the third quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after purchasing an additional 305 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of Exelixis by 6.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company’s stock worth $235,000 after purchasing an additional 329 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of Exelixis by 3.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 9,077 shares of the biotechnology company’s stock worth $389,000 after buying an additional 333 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 Exelixis news, Director Mary Beckerle sold 9,812 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director owned 16,079 shares in the company, valued at $862,799.14. The trade was a 37.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is currently owned by insiders.

Key Stories Impacting Exelixis

Here are the key news stories impacting Exelixis this week:

• Neutral Sentiment: The FDA extended its review of Exelixis’ application for zanzalintinib in combination with atezolizumab for patients with metastatic colorectal cancer by three months. The new decision target is March 2027. The extension does not indicate a rejection, but it delays regulatory clarity. U.S. FDA extends review of Exelixis’ cancer drug
• Negative Sentiment: The delayed decision pushes back the potential launch and commercial ramp of zanzalintinib in colorectal cancer, reducing near-term visibility for investors and contributing to concern about Exelixis’ revenue outlook. Analysts are also assessing the effect of the announcement on stock volatility. Exelixis Stock Slips as FDA Delays Cancer Drug Review, Analyst Weighs In
• Neutral Sentiment: The FDA action follows Exelixis’ broader investor presentation and legal developments, but the reports provide no new change to the company’s existing earnings outlook or indication of a problem with its currently marketed products. Exelixis Presents at Citigroup’s Biopharma Back to School Summit 2026

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EXEL shares. HC Wainwright reissued a “buy” rating and set a $56.00 price target on shares of Exelixis in a research note on Thursday, July 2nd. Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a report on Wednesday, July 22nd. Zacks Research upgraded Exelixis from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Wall Street Zen lowered shares of Exelixis from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Truist Financial reduced their price target on shares of Exelixis from $56.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.07.

Exelixis Stock Performance

NASDAQ:EXEL opened at $56.12 on Friday. The stock’s fifty day moving average is $55.35 and its 200 day moving average is $49.98. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $59.72. The firm has a market capitalization of $13.91 billion, a PE ratio of 17.65, a PEG ratio of 1.71 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business had revenue of $628.69 million for the quarter, compared to analysts’ expectations of $636.40 million. During the same quarter in the previous year, the business posted $0.75 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. Equities analysts forecast that Exelixis, Inc. will post 3.19 EPS for the current year.

About Exelixis

Exelixis, Inc (NASDAQ: EXEL) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company’s research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and progression.

Exelixis’ principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with advanced renal cell carcinoma, hepatocellular carcinoma and radioactive iodine-refractory differentiated thyroid cancer.