Insider Selling: Exagen (NASDAQ:XGN) CEO Sells 31,787 Shares of Stock

Key Points

• Exagen Inc. CEO John Aballi sold 31,787 shares at an average price of $11.82, totaling approximately $375,722, resulting in a 4.26% decrease in his ownership of the company.
• The company's stock increased by 1.6% to $11.72, with a market capitalization of $257.89 million and a significant presence of institutional investors owning 75.25% of the stock.
• Analysts have a consensus rating of "Moderate Buy" for Exagen's shares, with a price target around $12.60, after several upgrades from firms like KeyCorp and B. Riley.

Exagen Inc. (NASDAQ:XGN - Get Free Report) CEO John Aballi sold 31,787 shares of the business's stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $11.82, for a total transaction of $375,722.34. Following the completion of the sale, the chief executive officer directly owned 714,427 shares in the company, valued at approximately $8,444,527.14. This represents a 4.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Exagen Stock Up 1.6%

Shares of XGN stock traded up $0.18 during trading on Monday, reaching $11.72. The company's stock had a trading volume of 200,298 shares, compared to its average volume of 233,070. The company has a quick ratio of 4.95, a current ratio of 4.95 and a debt-to-equity ratio of 1.06. The business has a fifty day moving average price of $10.19 and a 200-day moving average price of $7.83. Exagen Inc. has a one year low of $2.38 and a one year high of $11.99. The company has a market cap of $257.89 million, a price-to-earnings ratio of -13.17 and a beta of 1.54.

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. KeyCorp upped their price target on shares of Exagen from $12.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 14th. B. Riley began coverage on shares of Exagen in a research report on Thursday, September 11th. They set a "buy" rating and a $15.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Exagen in a research report on Wednesday, October 8th. Canaccord Genuity Group increased their price objective on shares of Exagen from $8.00 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $10.00 price objective on shares of Exagen in a research report on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.60.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in XGN. Acadian Asset Management LLC acquired a new position in shares of Exagen during the first quarter valued at about $25,000. XTX Topco Ltd acquired a new position in shares of Exagen during the second quarter valued at about $133,000. Occudo Quantitative Strategies LP acquired a new position in shares of Exagen during the second quarter valued at about $138,000. Bridgeway Capital Management LLC raised its position in shares of Exagen by 10.3% during the second quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company's stock valued at $194,000 after buying an additional 2,600 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Exagen during the second quarter valued at about $217,000. Institutional investors and hedge funds own 75.25% of the company's stock.

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).

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