Exagen Inc. $XGN Shares Sold by Stonepine Capital Management LLC

Key Points

• Stonepine Capital Management LLC reduced its stake in Exagen Inc. by 61.9%, selling 155,302 shares in the first quarter and now holds approximately 0.53% of the company valued at $344,000.
• Exagen's recent earnings report indicated an EPS of ($0.18), matching analysts' estimates, with revenue of $17.20 million for the quarter, surpassing estimates.
• Analysts have set a buy rating on Exagen with an average price target of $11.25, following positive ratings and price upgrades from multiple brokerages.

Stonepine Capital Management LLC decreased its holdings in shares of Exagen Inc. (NASDAQ:XGN - Free Report) by 61.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,747 shares of the company's stock after selling 155,302 shares during the period. Stonepine Capital Management LLC owned about 0.53% of Exagen worth $344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in shares of Exagen during the 4th quarter valued at approximately $66,000. Northern Trust Corp lifted its position in shares of Exagen by 16.7% during the 4th quarter. Northern Trust Corp now owns 18,375 shares of the company's stock valued at $75,000 after buying an additional 2,630 shares in the last quarter. Huntleigh Advisors Inc. lifted its position in shares of Exagen by 16.8% during the 1st quarter. Huntleigh Advisors Inc. now owns 83,108 shares of the company's stock valued at $298,000 after buying an additional 11,939 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Exagen by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 98,057 shares of the company's stock valued at $402,000 after buying an additional 10,442 shares in the last quarter. Finally, Palumbo Wealth Management LLC lifted its position in shares of Exagen by 14.4% during the 1st quarter. Palumbo Wealth Management LLC now owns 99,205 shares of the company's stock valued at $356,000 after buying an additional 12,501 shares in the last quarter. Hedge funds and other institutional investors own 75.25% of the company's stock.

Wall Street Analysts Forecast Growth

XGN has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their target price on Exagen from $8.00 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. UBS Group restated an "overweight" rating on shares of Exagen in a report on Thursday, May 15th. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 price objective on shares of Exagen in a report on Wednesday, July 30th. Craig Hallum started coverage on Exagen in a report on Wednesday, July 23rd. They issued a "buy" rating and a $12.00 price objective on the stock. Finally, KeyCorp upgraded Exagen from a "sector weight" rating to an "overweight" rating and set a $12.00 price objective on the stock in a report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $11.25.

Exagen Trading Down 3.5%

Shares of NASDAQ:XGN traded down $0.35 during midday trading on Wednesday, reaching $9.55. 325,621 shares of the company's stock were exchanged, compared to its average volume of 281,860. The firm's 50 day simple moving average is $7.99 and its two-hundred day simple moving average is $6.06. The company has a quick ratio of 4.95, a current ratio of 4.95 and a debt-to-equity ratio of 1.06. Exagen Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $10.34.

Exagen (NASDAQ:XGN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.18). The firm had revenue of $17.20 million during the quarter, compared to the consensus estimate of $16.25 million. Exagen had a negative return on equity of 130.38% and a negative net margin of 28.85%. Exagen has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Exagen Inc. will post -0.88 earnings per share for the current 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).