AQR Capital Management disclosed a 4.39% stake in Exelixis, Inc. The investment firm now holds 11,023,943 shares. A Schedule 13G/A filing on August 12, 2026, confirmed the position and noted shared voting and dispositive power.
The disclosure follows significant volatility for Exelixis stock. The company reported strong second-quarter revenue and net income but lowered its full-year revenue guidance. This guidance adjustment triggered a recent pullback in the share price.
Market analysis indicates a potential valuation disconnect for the biotech firm. While one metric suggests the stock is overvalued, its price-to-earnings ratio remains below the US Biotechs industry average.