Stonepine Capital Management LLC Reduces Stock Holdings in Exagen Inc. (NASDAQ:XGN)

Stonepine Capital Management LLC trimmed its holdings in shares of Exagen Inc. (NASDAQ:XGN) by 53.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,049 shares of the company’s stock after selling 283,349 shares during the quarter. Stonepine Capital Management LLC owned 1.42% of Exagen worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Palumbo Wealth Management LLC grew its stake in Exagen by 13.5% during the 4th quarter. Palumbo Wealth Management LLC now owns 86,704 shares of the company’s stock valued at $355,000 after purchasing an additional 10,340 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in Exagen during the 4th quarter valued at about $45,000. Virtu Financial LLC purchased a new stake in Exagen during the 4th quarter valued at about $46,000. Geode Capital Management LLC grew its stake in Exagen by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 98,057 shares of the company’s stock valued at $402,000 after purchasing an additional 10,442 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its stake in Exagen by 8.8% during the 4th quarter. Kennedy Capital Management LLC now owns 184,473 shares of the company’s stock valued at $756,000 after purchasing an additional 14,920 shares during the last quarter. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on XGN shares. BTIG Research reiterated a “buy” rating on shares of Exagen in a research note on Wednesday, May 7th. William Blair restated an “outperform” rating on shares of Exagen in a research note on Wednesday, March 12th. Canaccord Genuity Group upped their target price on Exagen from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Finally, Cantor Fitzgerald lowered their target price on Exagen from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Thursday.

Exagen Stock Up 4.7%

Shares of XGN opened at $6.01 on Friday. Exagen Inc. has a 52 week low of $1.71 and a 52 week high of $7.20. 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 company has a market capitalization of $128.01 million, a price-to-earnings ratio of -6.39 and a beta of 1.50. The stock’s 50-day moving average price is $4.81 and its 200-day moving average price is $4.23.

Exagen (NASDAQ:XGN) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). The company had revenue of $15.50 million during the quarter, compared to analysts’ expectations of $14.55 million. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. During the same quarter in the prior year, the firm posted ($0.19) EPS. On average, sell-side analysts predict that Exagen Inc. will post -0.88 EPS for the current year.

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).