Exagen (NASDAQ:XGN) Trading 1.4% Higher – Still a Buy?

Exagen Inc. (NASDAQ:XGN) shares were 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 were traded during trading, an increase of 18% from the average daily volume of 55,687 shares. The stock had previously closed at $4.95.

Analysts Set New Price Targets

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

Exagen Price Performance

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 stock’s 50-day simple moving average is $3.66 and its 200 day simple moving average is $2.91. The company has a market cap of $88.54 million, a price-to-earnings ratio of -5.34 and a beta of 1.49.

Exagen (NASDAQ:XGN) last released its earnings results 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 net margin of 30.36% and a negative return on equity of 92.58%. The company 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 business earned ($0.31) EPS. On average, equities research analysts anticipate that Exagen Inc. will post -0.87 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Exagen

Several large investors have recently bought and sold shares of XGN. Stonepine Capital Management LLC lifted its position in shares of Exagen by 49.0% in the third 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 in the last quarter. Verus Capital Partners LLC purchased a new position in Exagen in the 3rd quarter worth approximately $39,000. Palumbo Wealth Management LLC lifted its stake 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 worth $236,000 after acquiring an additional 9,695 shares in the last quarter. Creative Planning acquired a new position in Exagen during the 3rd quarter worth $110,000. Finally, Renaissance Technologies LLC increased its holdings in Exagen by 93.3% in the second 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 during the last quarter. Institutional investors and hedge funds own 75.25% of the company’s stock.

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).