Exagen (NASDAQ:XGN) CEO Sells 34,294 Shares of Company Stock

Exagen Inc. (NASDAQ:XGN) CEO John Aballi sold 34,294 shares of the company’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $7.87, for a total transaction of $269,893.78. Following the completion of the transaction, the chief executive officer owned 805,540 shares of the company’s stock, valued at approximately $6,339,599.80. The trade was a 4.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Exagen Stock Performance

Shares of Exagen stock traded down $0.29 on Monday, hitting $7.43. The stock had a trading volume of 471,149 shares, compared to its average volume of 391,777. Exagen Inc. has a 52-week low of $2.59 and a 52-week high of $12.23. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 1.96. The stock has a market cap of $180.03 million, a price-to-earnings ratio of -9.17 and a beta of 2.12. The company’s 50 day moving average price is $7.74 and its 200 day moving average price is $5.38.

Exagen (NASDAQ:XGN) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. The company had revenue of $19.94 million for the quarter, compared to analyst estimates of $17.80 million. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. On average, research analysts anticipate that Exagen Inc. will post -0.69 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on XGN. BTIG Research raised their target price on shares of Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. TD Cowen upped their price target on shares of Exagen from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Roth Capital began coverage on shares of Exagen in a research note on Wednesday, June 24th. They set a “buy” rating and a $8.00 price target for the company. B. Riley Financial assumed coverage on shares of Exagen in a research report on Friday, September 11th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Exagen in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Exagen has a consensus rating of “Moderate Buy” and a consensus target price of $10.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Penbrook Management LLC purchased a new stake in shares of Exagen during the third quarter worth approximately $92,000. Flputnam Investment Management Co. acquired a new stake in shares of Exagen during the second quarter worth $1,343,000. Corient Private Wealth LP purchased a new position in Exagen in the 2nd quarter valued at $52,000. Man Group plc purchased a new position in Exagen in the 2nd quarter valued at $778,000. Finally, BlackRock Inc. acquired a new position in Exagen in the 2nd quarter valued at $663,000. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

About Exagen

Exagen Inc (NASDAQ: XGN) is a diagnostic healthcare company focused on autoimmune diseases. The company develops and commercializes blood tests designed to help physicians diagnose, differentiate and monitor conditions such as systemic lupus erythematosus, rheumatoid arthritis and other connective tissue diseases.

Exagen’s principal product family is AVISE, a suite of proprietary autoimmune testing services that includes AVISE CTD, AVISE Lupus and monitoring tests. These assays combine multiple biomarkers and are intended to provide physicians with information that may support earlier or more informed clinical decisions, particularly in rheumatology.

Exagen operates a specialized laboratory testing business serving healthcare providers primarily in the United States.