Wasatch Advisors LP Sells 272,054 Shares of Exagen Inc. (NASDAQ:XGN)

Wasatch Advisors LP trimmed its position in Exagen Inc. (NASDAQ:XGN - Free Report) by 35.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 490,205 shares of the company's stock after selling 272,054 shares during the quarter. Wasatch Advisors LP owned approximately 2.82% of Exagen worth $1,515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake 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 during the period. Creative Planning bought a new position in Exagen during the 3rd quarter worth approximately $110,000. Palumbo Wealth Management LLC grew its holdings in 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 purchasing an additional 9,695 shares during the period. Verus Capital Partners LLC acquired a new position in Exagen during the third quarter valued at approximately $39,000. Finally, Stonepine Capital Management LLC increased its stake 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 purchasing an additional 175,701 shares in the last quarter. 75.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Exagen

In related news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of Exagen 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 sale, the insider now owns 2,108,958 shares of the company's stock, valued at approximately $6,959,561.40. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Aballi bought 24,305 shares of the business's stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $2.81 per share, for a total transaction of $68,297.05. Following the purchase, the chief executive officer now directly owns 689,799 shares in the company, valued at approximately $1,938,335.19. This represents a 3.65 % increase in their position. The disclosure for this purchase can be found here. 26.10% of the stock is currently owned by insiders.

Exagen Stock Up 5.5 %

Shares of NASDAQ XGN traded up $0.22 during mid-day trading on Monday, reaching $4.19. 93,677 shares of the company's stock were exchanged, compared to its average volume of 46,182. Exagen Inc. has a twelve month low of $1.30 and a twelve month high of $4.83. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $73.91 million, a price-to-earnings ratio of -4.46 and a beta of 1.48. The business has a fifty day simple moving average of $3.00 and a 200 day simple moving average of $2.56.

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

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).