Key Points
- CEO John Aballi sold 34,294 Exagen shares at an average price of $7.87, generating approximately $269,894. The sale covered tax-withholding obligations tied to vested equity awards and reduced his direct ownership by 4.08%.
- Exagen shares opened at $7.43 after declining 3.8%; the stock has traded between $2.59 and $12.23 over the past year. The company’s latest quarterly results beat estimates, with revenue of $19.94 million and an adjusted loss of $0.13 per share.
- Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $10.12. Institutional investors own approximately 75.25% of Exagen’s outstanding stock.
Exagen Inc. (NASDAQ:XGN - Get Free Report) CEO John Aballi sold 34,294 shares of Exagen stock in a transaction on Friday, October 16th. The stock was sold at an average price of $7.87, for a total transaction of $269,893.78. Following the sale, the chief executive officer directly owned 805,540 shares of the company's stock, valued at approximately $6,339,599.80. This trade represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Exagen Trading Down 3.8%
Shares of XGN stock opened at $7.43 on Tuesday. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 1.96. The firm has a fifty day moving average price of $7.76 and a 200 day moving average price of $5.41. Exagen Inc. has a 12 month low of $2.59 and a 12 month high of $12.23.
Exagen (NASDAQ:XGN - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. The firm had revenue of $19.94 million for the quarter, compared to analyst estimates of $17.80 million. As a group, sell-side analysts expect that Exagen Inc. will post -0.69 earnings per share for the current year.
Analyst Ratings Changes
Several research firms have recently issued reports on XGN. Canaccord Genuity Group upped their price objective on Exagen from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Monday. BTIG Research raised their target price on Exagen from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Weiss Ratings reissued a "sell (e+)" rating on shares of Exagen in a research report on Friday, August 7th. B. Riley Financial assumed coverage on Exagen in a research note on Friday, September 11th. They set a "buy" rating and a $12.00 target price for the company. Finally, TD Cowen upped their price target on Exagen from $10.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Exagen currently has an average rating of "Moderate Buy" and a consensus price target of $10.12.
Get Our Latest Stock Analysis on XGN
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of XGN. Penbrook Management LLC acquired a new stake in Exagen during the 3rd quarter worth $92,000. Flputnam Investment Management Co. purchased a new stake in Exagen in the second quarter valued at $1,343,000. Corient Private Wealth LP acquired a new position in Exagen in the second quarter valued at $52,000. Man Group plc acquired a new position in Exagen in the second quarter valued at $778,000. Finally, BlackRock Inc. acquired a new position in Exagen in the second quarter valued at $663,000. 75.25% of the stock is owned by hedge funds and other institutional investors.
About Exagen
(
Get Free Report)
Exagen Inc (NASDAQ: XGN) is a diagnostic healthcare company focused on autoimmune diseases. The company develops and commercializes blood tests designed to help physicians diagnose, differentiate and monitor conditions such as systemic lupus erythematosus, rheumatoid arthritis and other connective tissue diseases.
Exagen's principal product family is AVISE, a suite of proprietary autoimmune testing services that includes AVISE CTD, AVISE Lupus and monitoring tests. These assays combine multiple biomarkers and are intended to provide physicians with information that may support earlier or more informed clinical decisions, particularly in rheumatology.
Exagen operates a specialized laboratory testing business serving healthcare providers primarily in the United States.
Further Reading
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