Reported 2 days ago
Exelixis, Inc. (NASDAQ:EXEL) is facing increased scrutiny as insiders and short sellers aggressively exit the stock, contributing to its ranking among the top large-cap stocks experiencing significant sell-offs. This trend reflects broader market apprehension, influenced by rising Treasury yields and economic uncertainty, which is prompting insiders to lock in gains before potential downturns. Despite a strong performance from its cancer drug Cabometyx, Exelixis struggles with challenges in clinical trials and rising costs, indicating a cooling outlook for the company.
Source: YAHOO