Exagen (NASDAQ:XGN) Trading 1.4% Higher – Should You Buy?

Shares of Exagen Inc. (NASDAQ:XGN) rose 1.4% on Tuesday . The company traded as high as $5.30 and last traded at $5.02. Approximately 65,825 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 55,687 shares. The stock had previously closed at $4.95.

Wall Street Analyst Weigh In

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

Exagen Stock Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 4.05 and a quick ratio of 4.05. The company has a market cap of $88.54 million, a price-to-earnings ratio of -5.34 and a beta of 1.49. The firm has a 50 day simple moving average of $3.75 and a 200-day simple moving average of $2.94.

Exagen (NASDAQ:XGN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share 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 firm had revenue of $12.51 million during the quarter, compared to analysts’ expectations of $13.55 million. During the same quarter last year, the company posted ($0.31) EPS. As a group, analysts predict that Exagen Inc. will post -0.87 EPS for the current fiscal year.

Insider Activity at Exagen

In other Exagen news, CEO John Aballi purchased 24,305 shares of the company’s stock in a transaction 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 completion of the purchase, the chief executive officer now directly owns 689,799 shares in the company, valued at approximately $1,938,335.19. The trade was a 3.65 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 2,108,958 shares in the company, valued at $6,959,561.40. This 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 Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of XGN. Verus Capital Partners LLC purchased a new position in Exagen in the third quarter worth approximately $39,000. Creative Planning acquired a new stake in shares of Exagen in the 3rd quarter valued at $110,000. Renaissance Technologies LLC lifted its position in shares of Exagen by 93.3% during the 2nd quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock worth $172,000 after purchasing an additional 45,476 shares during the last quarter. Palumbo Wealth Management LLC grew its stake 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 worth $236,000 after purchasing an additional 9,695 shares in the last quarter. Finally, Stonepine Capital Management LLC increased its holdings in 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 buying an additional 175,701 shares during the last quarter. 75.25% of the stock is owned by institutional investors and hedge funds.

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).