Key insights
- A director at Exelixis (EXEL) sold nearly $500,000 in stock, despite the company reporting strong Q1 earnings and revenue, and trading near its 52-week high. While the sale was under a pre-arranged plan, significant insider selling can sometimes signal a lack of confidence or a desire to take profits, potentially creating a slight bearish overhang for the stock in the short term.
Sue Gail Eckhardt, a director at EXELIXIS, INC. (NASDAQ:EXEL), sold 9,812 shares of the company’s common stock on June 1, 2026. The total value of the transaction amounted to $491,973.
The shares were sold at prices ranging from $49.73 to $50.61 per share, with a weighted average sale price of $50.14. This transaction was executed under a Rule 10b5-1 trading plan, which Ms. Eckhardt adopted on November 11, 2025.The sale comes as Exelixis stock trades near its 52-week high of $52.96, with shares currently at $51.61. According to InvestingPro analysis, the stock appears undervalued at current levels, with a Fair Value suggesting potential upside. The company maintains an "EXCELLENT" financial health score and trades at a P/E ratio of 17.05. For deeper insights, investors can access one of over 1,400 comprehensive Pro Research Reports available exclusively on InvestingPro.
Following this sale, Ms. Eckhardt directly holds 16,079 shares of Exelixis common stock. This total includes shares that are expected to be issued upon the vesting of restricted stock units (RSUs), where each RSU is the economic equivalent of one share of common stock.
In other recent news, Exelixis Inc. reported impressive financial results for the first quarter of 2026, exceeding both earnings and revenue expectations. The company posted an earnings per share of $0.87, surpassing the anticipated $0.77, and recorded revenue of $611 million, slightly above the forecast of $608.95 million. Additionally, Exelixis announced a clinical development collaboration with Merck for a phase 3 trial targeting resected stage II/III colorectal cancer. Under this agreement, Exelixis will sponsor the STELLAR-316 pivotal trial, while Merck will provide its subcutaneous anti-PD-1 therapy, KEYTRUDA QLEX. Furthermore, Exelixis presented subgroup analysis results from the phase 3 CABINET trial at the American Society of Clinical Oncology Annual Meeting. The analysis revealed that Cabometyx significantly reduced the risk of disease progression or death in patients with both non-functional and functional advanced neuroendocrine tumors when compared to a placebo. These developments highlight Exelixis’s ongoing efforts in advancing cancer treatment.
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