Insider Buying: Exagen Inc. (NASDAQ:XGN) CEO Acquires 24,305 Shares of Stock

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

Exagen Price Performance

NASDAQ XGN traded up $0.02 during mid-day trading on Monday, hitting $3.00. The company’s stock had a trading volume of 45,449 shares, compared to its average volume of 41,877. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.05 and a current ratio of 4.05. The company’s 50 day simple moving average is $2.82 and its 200 day simple moving average is $2.40. Exagen Inc. has a twelve month low of $1.30 and a twelve month high of $3.71.

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

Institutional Trading of Exagen

Several institutional investors and hedge funds have recently bought and sold shares of the company. Verus Capital Partners LLC bought a new stake in Exagen during the third quarter valued at $39,000. Creative Planning purchased a new position in shares of Exagen during the third quarter worth about $110,000. Renaissance Technologies LLC increased its position in shares of Exagen by 93.3% in the second 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 raised its stake in Exagen by 14.5% in 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 in the last quarter. Finally, Stonepine Capital Management LLC lifted its position in Exagen by 49.0% during 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 during the last quarter. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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).