Insider Selling: Exagen Inc. (NASDAQ:XGN) Major Shareholder Sells 200,000 Shares of Stock

Exagen Inc. (NASDAQ:XGN) major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 owns 2,108,958 shares of the company’s stock, valued at $6,959,561.40. This represents a 8.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Exagen Stock Down 2.5 %

NASDAQ XGN opened at $3.84 on Thursday. Exagen Inc. has a 1-year low of $1.30 and a 1-year high of $4.83. 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 moving average is $2.96 and its two-hundred day moving average is $2.53.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. The firm had revenue of $12.51 million for the quarter, compared to analysts’ expectations of $13.55 million. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. During the same period in the prior year, the business posted ($0.31) earnings per share. As a group, equities analysts expect that Exagen Inc. will post -0.87 EPS for the current year.

Institutional Investors Weigh In On Exagen

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position 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 in the last quarter. Creative Planning acquired a new stake in shares of Exagen during the third quarter worth approximately $110,000. Verus Capital Partners LLC bought a new position in shares of Exagen in the third quarter valued at approximately $39,000. Palumbo Wealth Management LLC boosted its holdings in shares of Exagen by 14.5% in the 3rd 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. Finally, Stonepine Capital Management LLC grew its position in Exagen by 49.0% during the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock worth $1,651,000 after acquiring an additional 175,701 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, William Blair reiterated 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).