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

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

Exagen Price Performance

Exagen stock traded down $0.29 during midday trading on Monday, reaching $7.43. The company had a trading volume of 471,149 shares, compared to its average volume of 391,777. The company has a market capitalization of $180.03 million, a P/E ratio of -9.17 and a beta of 2.12. Exagen Inc. has a 12-month low of $2.59 and a 12-month high of $12.23. The firm’s fifty day simple moving average is $7.74 and its 200-day simple moving average is $5.38. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.18 and a quick ratio of 3.18.

Exagen (NASDAQ:XGN) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. The company had revenue of $19.94 million for the quarter, compared to analysts’ expectations of $17.80 million. As a group, equities analysts anticipate that Exagen Inc. will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Exagen

Several hedge funds have recently bought and sold shares of the company. Penbrook Management LLC acquired a new position in Exagen during the 3rd quarter worth $92,000. Flputnam Investment Management Co. acquired a new stake in Exagen in the second quarter valued at approximately $1,343,000. Corient Private Wealth LP purchased a new position in Exagen in the second quarter worth approximately $52,000. Man Group plc purchased a new position in Exagen in the second quarter worth approximately $778,000. Finally, BlackRock Inc. acquired a new position in Exagen during the 2nd quarter worth approximately $663,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on XGN. Weiss Ratings reiterated a “sell (e+)” rating on shares of Exagen in a research report on Friday, August 7th. BTIG Research lifted their price target on Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. TD Cowen lifted their price target on Exagen from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. Canaccord Genuity Group boosted their price target on shares of Exagen from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday. Finally, Roth Capital began coverage on shares of Exagen in a report on Wednesday, June 24th. They issued a “buy” rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Exagen currently has an average rating of “Moderate Buy” and a consensus target price of $10.12.

Exagen Company Profile

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.