Exagen (NASDAQ:XGN) Trading Up 1.4% – Here’s What Happened

Exagen Inc. (NASDAQ:XGN) was up 1.4% during mid-day trading on Tuesday . The stock traded as high as $5.30 and last traded at $5.02. Approximately 65,825 shares changed hands during trading, an increase of 18% from the average daily volume of 55,687 shares. The stock had previously closed at $4.95.

Wall Street Analyst Weigh In

Separately, William Blair reaffirmed an “outperform” rating on shares of Exagen in a report on Wednesday, November 13th.

Exagen Price Performance

The firm has a market cap of $88.54 million, a P/E ratio of -5.34 and a beta of 1.49. The firm’s fifty day simple moving average is $3.75 and its 200 day simple moving average is $2.94. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.05 and a current ratio of 4.05.

Exagen (NASDAQ:XGN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. The business had revenue of $12.51 million for the quarter, compared to the consensus estimate of $13.55 million. During the same quarter in the previous year, the company posted ($0.31) EPS. As a group, analysts forecast that Exagen Inc. will post -0.87 earnings per share for the current year.

Insider Buying and Selling at Exagen

In other Exagen news, CEO John Aballi purchased 24,305 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $2.81 per share, for a total transaction of $68,297.05. Following the completion of the purchase, the chief executive officer now owns 689,799 shares of the company’s stock, valued at approximately $1,938,335.19. The trade was a 3.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $3.30, for a total transaction of $660,000.00. Following the transaction, the insider now owns 2,108,958 shares in the company, valued at $6,959,561.40. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. 26.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exagen

Several hedge funds have recently modified their holdings of XGN. Stonepine Capital Management LLC lifted its position in shares of Exagen by 49.0% during the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock valued at $1,651,000 after buying an additional 175,701 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Exagen by 93.3% in the 2nd quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock worth $172,000 after acquiring an additional 45,476 shares in the last quarter. Palumbo Wealth Management LLC raised its position in Exagen by 14.5% during the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock worth $236,000 after acquiring an additional 9,695 shares during the period. Creative Planning purchased a new position in Exagen during the third quarter valued at $110,000. Finally, Verus Capital Partners LLC purchased a new stake in shares of Exagen during the third quarter worth about $39,000. 75.25% of the stock is owned by hedge funds and other institutional investors.

About Exagen

Exagen Inc develops and commercializes various testing products under the AVISE brand in the United States. The company enables healthcare providers to care for patients through the diagnosis, prognosis, and monitoring of autoimmune and autoimmune-related diseases, including systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA).