Insider Selling: Exagen Inc. (NASDAQ:XGN) Major Shareholder Sells 200,000 Shares of Stock

Exagen Inc. (NASDAQ:XGN) major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 2,108,958 shares in the company, valued at approximately $6,959,561.40. This represents a 8.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Exagen Stock Down 2.5 %

XGN stock opened at $3.84 on Friday. The firm has a 50 day moving average of $2.98 and a 200-day moving average of $2.54. Exagen Inc. has a 12 month low of $1.30 and a 12 month high of $4.83. 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 announced its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share 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 analyst estimates of $13.55 million. During the same period in the prior year, the company earned ($0.31) EPS. Equities analysts expect that Exagen Inc. will post -0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Verus Capital Partners LLC purchased a new position in Exagen in the 3rd quarter worth $39,000. Creative Planning bought a new position in shares of Exagen during the third quarter valued at about $110,000. Renaissance Technologies LLC increased its holdings in shares of 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 buying an additional 45,476 shares during the period. Palumbo Wealth Management LLC lifted its stake in shares of Exagen by 14.5% in the 3rd quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after acquiring an additional 9,695 shares during the last quarter. Finally, Stonepine Capital Management LLC boosted its holdings in 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 acquiring an additional 175,701 shares during the period. 75.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, William Blair reaffirmed an “outperform” rating on shares of Exagen in a research report 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).