Insider Selling: Exagen (NASDAQ:XGN) CEO Sells 11,430 Shares of Stock

Exagen Inc. (NASDAQ:XGN) CEO John Aballi sold 11,430 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $3.61, for a total transaction of $41,262.30. Following the transaction, the chief executive officer directly owned 702,997 shares in the company, valued at approximately $2,537,819.17. The trade was a 1.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Exagen Trading Up 3.0%

XGN stock traded up $0.11 during trading hours on Wednesday, hitting $3.80. The company’s stock had a trading volume of 285,892 shares, compared to its average volume of 457,148. The stock has a 50 day moving average price of $4.80 and a two-hundred day moving average price of $7.97. Exagen Inc. has a 12 month low of $2.67 and a 12 month high of $12.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 4.08 and a current ratio of 4.08.

Hedge Funds Weigh In On Exagen

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new stake in Exagen in the 1st quarter valued at $25,000. Truvestments Capital LLC raised its position in shares of Exagen by 109.5% during the fourth quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in shares of Exagen in the fourth quarter valued at about $80,000. Schonfeld Strategic Advisors LLC acquired a new stake in Exagen during the fourth quarter worth about $82,000. Finally, Jain Global LLC bought a new position in Exagen during the fourth quarter valued at about $82,000. Institutional investors own 75.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on XGN. TD Cowen lowered their price objective on Exagen from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Exagen in a research report on Wednesday, January 21st. BTIG Research reduced their price objective on shares of Exagen from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $8.00 target price (down from $18.00) on shares of Exagen in a research note on Friday, January 30th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.43.

Exagen Company Profile

Exagen Inc is a molecular diagnostics company focused on improving the detection and management of autoimmune diseases. Headquartered in the United States, the company develops, manufactures and markets laboratory tests designed to help clinicians address diagnostic challenges associated with complex connective tissue disorders.

The company’s flagship product portfolio, marketed under the Avise® brand, includes multi-analyte assays such as the Avise® Connective Tissue Disease (CTD) panel, Avise® Lupus panel and Avise® Sjögren’s panel.