Penbrook Management LLC Cuts Stake in Exagen Inc. (NASDAQ:XGN)

Penbrook Management LLC lessened its stake in shares of Exagen Inc. (NASDAQ:XGN) by 29.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,594 shares of the company’s stock after selling 18,361 shares during the period. Penbrook Management LLC owned about 0.25% of Exagen worth $183,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on XGN. Canaccord Genuity Group boosted their target price on shares of Exagen from $5.00 to $7.00 and gave the company a “buy” rating in a report on Friday, January 3rd. William Blair reiterated an “outperform” rating on shares of Exagen in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 price objective on shares of Exagen in a report on Monday, January 13th.

Exagen Stock Performance

Shares of NASDAQ:XGN opened at $4.07 on Thursday. Exagen Inc. has a 12 month low of $1.30 and a 12 month high of $6.22. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 1.54. The company has a 50 day moving average of $4.23 and a 200 day moving average of $3.26.

Exagen (NASDAQ:XGN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.02. Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. The firm had revenue of $12.51 million for the quarter, compared to analysts’ expectations of $13.55 million. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. On average, sell-side analysts expect that Exagen Inc. will post -0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $3.30, for a total value of $660,000.00. Following the transaction, the insider now owns 2,108,958 shares of the company’s stock, valued at $6,959,561.40. This represents a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Aballi purchased 24,305 shares of the stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $2.81 per share, for a total transaction of $68,297.05. Following the transaction, the chief executive officer now directly owns 689,799 shares of the company’s stock, valued at approximately $1,938,335.19. This represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 26.10% of the company’s stock.

Exagen Profile

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).