John Aballi Purchases 24,305 Shares of Exagen Inc. (NASDAQ:XGN) Stock

Exagen Inc. (NASDAQ:XGN) CEO John Aballi bought 24,305 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $2.81 per share, for a total transaction of $68,297.05. Following the transaction, the chief executive officer now owns 689,799 shares in the company, valued at $1,938,335.19. This trade represents a 3.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Exagen Stock Up 17.7 %

Shares of NASDAQ XGN opened at $3.53 on Wednesday. The firm’s fifty day moving average is $2.83 and its 200 day moving average is $2.43. Exagen Inc. has a 52 week low of $1.30 and a 52 week high of $3.71. 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 cap of $62.26 million, a price-to-earnings ratio of -3.76 and a beta of 1.35.

Exagen (NASDAQ:XGN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $12.51 million for the quarter, compared to analysts’ expectations of $13.55 million. During the same quarter in the previous year, the company earned ($0.31) earnings per share. On average, equities research analysts expect that Exagen Inc. will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in XGN. Palumbo Wealth Management LLC increased its position in shares of Exagen by 14.5% during the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after buying an additional 9,695 shares during the period. Verus Capital Partners LLC bought a new stake in Exagen during the 3rd quarter valued at approximately $39,000. Creative Planning purchased a new position in shares of Exagen during the 3rd quarter worth approximately $110,000. Renaissance Technologies LLC raised its position in shares of Exagen by 93.3% in the 2nd quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock worth $172,000 after acquiring an additional 45,476 shares in the last quarter. Finally, Stonepine Capital Management LLC lifted its stake in shares of Exagen by 49.0% in the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock valued at $1,651,000 after purchasing 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 reissued an “outperform” rating on shares of Exagen in a research note on Wednesday, November 13th.

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).