Exagen Inc. (NASDAQ:XGN) Shares Sold by Stonepine Capital Management LLC

Stonepine Capital Management LLC cut its stake in Exagen Inc. (NASDAQ:XGN - Free Report) by 53.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 251,049 shares of the company's stock after selling 283,349 shares during the period. Stonepine Capital Management LLC owned about 1.42% of Exagen worth $1,029,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Corient Private Wealth LLC purchased a new stake in Exagen in the fourth quarter valued at $45,000. Virtu Financial LLC acquired a new position in Exagen in the fourth quarter valued at $46,000. Marshall Wace LLP acquired a new position in Exagen in the fourth quarter valued at $66,000. Northern Trust Corp increased its stake in Exagen by 16.7% in the fourth quarter. Northern Trust Corp now owns 18,375 shares of the company's stock valued at $75,000 after purchasing an additional 2,630 shares during the period. Finally, Palumbo Wealth Management LLC increased its stake in Exagen by 13.5% in the fourth quarter. Palumbo Wealth Management LLC now owns 86,704 shares of the company's stock valued at $355,000 after purchasing an additional 10,340 shares during the period. 75.25% of the stock is owned by hedge funds and other institutional investors.

Exagen Stock Performance

Shares of Exagen stock traded down $0.19 on Wednesday, reaching $5.77. 156,352 shares of the stock were exchanged, compared to its average volume of 112,161. Exagen Inc. has a 1-year low of $1.71 and a 1-year high of $7.20. 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 business has a fifty day moving average price of $4.92 and a two-hundred day moving average price of $4.28. The firm has a market capitalization of $122.90 million, a PE ratio of -6.14 and a beta of 1.50.

Exagen (NASDAQ:XGN - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.20). Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. The business had revenue of $15.50 million for the quarter, compared to analyst estimates of $14.55 million. During the same period in the previous year, the business posted ($0.19) earnings per share. As a group, research analysts anticipate that Exagen Inc. will post -0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on XGN. UBS Group restated an "overweight" rating on shares of Exagen in a research note on Thursday, May 15th. Canaccord Genuity Group lifted their price objective on shares of Exagen from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. William Blair restated an "outperform" rating on shares of Exagen in a research note on Wednesday, March 12th. BTIG Research restated a "buy" rating on shares of Exagen in a research note on Wednesday, May 7th. Finally, Cantor Fitzgerald dropped their price objective on shares of Exagen from $8.00 to $7.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Exagen presently has a consensus rating of "Buy" and an average target price of $7.50.

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).