Exagen Inc. (NASDAQ:XGN) Major Shareholder Sells $660,000.00 in Stock

Exagen Inc. (NASDAQ:XGN) 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 transaction of $660,000.00. Following the sale, the insider now directly owns 2,108,958 shares in the company, valued at $6,959,561.40. This trade represents a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Exagen Stock Performance

Shares of XGN traded down $0.10 during midday trading on Wednesday, hitting $3.84. 23,799 shares of the stock traded hands, compared to its average volume of 46,110. 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 Inc. has a 1-year low of $1.30 and a 1-year high of $4.83. The business’s 50 day moving average price is $2.94 and its two-hundred day moving average price is $2.52. The firm has a market capitalization of $67.74 million, a PE ratio of -4.16 and a beta of 1.35.

Exagen (NASDAQ:XGN) last issued 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. The business had revenue of $12.51 million during the quarter, compared to analyst estimates of $13.55 million. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. During the same period in the prior year, the company posted ($0.31) EPS. Equities research analysts predict that Exagen Inc. will post -0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Exagen

Several large investors have recently bought and sold shares of XGN. Palumbo Wealth Management LLC increased its position in shares of Exagen by 14.5% during the 3rd 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. Verus Capital Partners LLC bought a new position in Exagen during the third quarter valued at about $39,000. Creative Planning acquired a new position in Exagen during the third quarter worth about $110,000. Renaissance Technologies LLC raised its position in Exagen by 93.3% in the second 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. Finally, Stonepine Capital Management LLC boosted 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 purchasing an additional 175,701 shares in the last quarter. Institutional investors and hedge funds own 75.25% of the company’s stock.

Wall Street Analyst Weigh In

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

Exagen Company 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).