Farallon Capital Management 13F: Cuts EXEL Stake by $141M
Farallon Capital Management reduced its position in Exelixis, Inc. by roughly 2.6 million shares in its latest regulatory filing.
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Farallon Capital Management sold 2,598,490 shares from its stake in Exelixis, Inc. ($EXEL), a 16.54% decrease, according to a 13F filing with the SEC dated May 15, 2026. It reported 13,111,010 shares worth $713.37 million at the end of the quarter.
Since the filing, $EXEL is up 0.0% after 1 week, up 5.7% after 1 month and up 24.1% to date (from the $50.13 close on May 15, 2026).
Find the original: Farallon Capital Management 13F filings on SEC EDGAR
EXEL
Exelixis, Inc.
Key Points
- Farallon Capital Management reduced its holdings in Exelixis, Inc. (NasdaqGS: EXEL) by 2,598,490 shares, cutting its stake 16.5% to 13,111,010 shares valued at approximately $713.4 million for the period ended May 15, 2026.
- The biotechnology company trades near $54.41, sitting below its 52-week peak of $59.72 while maintaining a price-to-earnings ratio of 17.99.
- Wall Street firms continue updating targets, with RBC Capital maintaining a sector perform rating and setting a $51.00 price target on October 9, 2026.
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Farallon Capital Management Trims Exelixis Stake
Farallon Capital Management pared back its investment in Exelixis, Inc. (NasdaqGS: EXEL) during the period ended May 15, 2026, according to a Form 13F filing with the U.S. Securities and Exchange Commission. Because 13F filings look backward, they show holdings as of a specific past date and might not match the investor's current portfolio.
Position Details and Share Reduction
During the reporting period, the fund unloaded 2,598,490 shares of the biotechnology company. This transaction marked a 16.5% decrease, bringing Farallon's total ownership down to 13,111,010 shares. At the close of the window, the remaining stake held a value of roughly $713.4 million.
Exelixis Stock Price and Market Standing
Shares of Exelixis changed hands around $54.41. The stock has moved between a 52-week low of $33.76 and a 52-week high of $59.72. The enterprise sports a P/E ratio of 17.99 alongside a forward P/E ratio of 13.43.
Analysts Set New Price Targets
Wall Street analysts keep refining their outlooks for the oncology developer. On October 9, 2026, RBC Capital maintained a sector perform rating while adjusting its target to $51.00 from a prior target of $45.00. Just a day earlier on October 8, 2026, RBC Capital kept a sector perform rating with a $45.00 target. Earlier on October 7, 2026, Truist Securities maintained a hold rating while lifting its target to $54.00 from $52.00.
Inside Exelixis Operations
Exelixis, Inc. focuses on discovering and commercializing targeted therapies for difficult-to-treat cancers. Its flagship medicine, CABOMETYX, treats advanced renal cell carcinoma, while other pipeline therapies address various solid tumors and receptor targets through internal research and licensing partnerships.
What to Watch at Exelixis, Inc.
Investors tracking Farallon's portfolio shifts and Exelixis shares should look ahead to the company's next scheduled earnings report on October 27, 2026. Regulatory filings provide valuable periodic updates, though they reflect historical positions rather than real-time trades.
Related Filing Alerts
Source: Farallon Capital Management's 13F filing on $EXEL (May 15, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Farallon Capital Management 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts