USA Financial Formulas Has $367,000 Holdings in Exelixis, Inc. (NASDAQ:EXEL)

USA Financial Formulas boosted its position in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 925.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,930 shares of the biotechnology company's stock after purchasing an additional 8,962 shares during the quarter. USA Financial Formulas' holdings in Exelixis were worth $367,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in Exelixis by 230.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 732,499 shares of the biotechnology company's stock valued at $27,044,000 after purchasing an additional 510,586 shares during the last quarter. SG Americas Securities LLC increased its stake in Exelixis by 4,857.2% during the 1st quarter. SG Americas Securities LLC now owns 567,653 shares of the biotechnology company's stock valued at $20,958,000 after buying an additional 556,202 shares during the period. Fiduciary Financial Group LLC acquired a new position in Exelixis during the 1st quarter valued at about $232,000. GAMMA Investing LLC increased its stake in Exelixis by 32.2% during the 1st quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock valued at $201,000 after buying an additional 1,328 shares during the period. Finally, Pallas Capital Advisors LLC increased its stake in Exelixis by 113.4% during the 1st quarter. Pallas Capital Advisors LLC now owns 47,649 shares of the biotechnology company's stock valued at $1,759,000 after buying an additional 25,322 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Exelixis Stock Performance

Shares of EXEL stock traded up $0.35 during trading on Thursday, hitting $41.78. 2,192,721 shares of the company were exchanged, compared to its average volume of 2,351,247. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.13 and a beta of 0.28. The business's 50-day simple moving average is $39.54 and its 200 day simple moving average is $36.83. Exelixis, Inc. has a twelve month low of $21.36 and a twelve month high of $48.85.

Insider Transactions at Exelixis

In other news, EVP Dana Aftab sold 1,508 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $39.00, for a total transaction of $58,812.00. Following the transaction, the executive vice president now owns 693,181 shares in the company, valued at $27,034,059. This represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George Poste sold 20,634 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $45.99, for a total transaction of $948,957.66. Following the completion of the sale, the director now owns 169,020 shares of the company's stock, valued at $7,773,229.80. The trade was a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 458,113 shares of company stock worth $21,024,817 in the last 90 days. 2.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on EXEL shares. Stifel Nicolaus raised their target price on shares of Exelixis from $36.00 to $38.00 and gave the company a "hold" rating in a research note on Wednesday, May 14th. Wells Fargo & Company reissued a "market outperform" rating on shares of Exelixis in a research note on Thursday, April 17th. Royal Bank of Canada reissued an "outperform" rating and set a $40.00 target price on shares of Exelixis in a research note on Wednesday, May 14th. Guggenheim set a $45.00 price objective on shares of Exelixis and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $39.76.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.