Nano Cap New Millennium Growth Fund L P Purchases New Shares in Exagen Inc. $XGN

Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Exagen Inc. (NASDAQ:XGN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 250,000 shares of the company’s stock, valued at approximately $1,520,000. Exagen makes up about 1.3% of Nano Cap New Millennium Growth Fund L P’s investment portfolio, making the stock its 19th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Acadian Asset Management LLC bought a new position in Exagen in the 1st quarter worth about $25,000. Larson Financial Group LLC purchased a new position in Exagen in the third quarter worth about $105,000. R Squared Ltd bought a new position in shares of Exagen in the fourth quarter worth approximately $111,000. XTX Topco Ltd purchased a new stake in shares of Exagen during the second quarter valued at approximately $133,000. Finally, Occudo Quantitative Strategies LP purchased a new position in Exagen in the 2nd quarter worth approximately $138,000. Institutional investors own 75.25% of the company’s stock.

Insider Activity

In other Exagen news, CEO John Aballi sold 15,698 shares of Exagen stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $3.62, for a total value of $56,826.76. Following the transaction, the chief executive officer owned 687,299 shares in the company, valued at $2,488,022.38. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.60% of the company’s stock.

Exagen Stock Performance

XGN opened at $4.27 on Friday. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 1.67. The company has a market cap of $103.16 million, a price-to-earnings ratio of -4.80 and a beta of 1.81. The company’s 50 day moving average is $3.10 and its 200 day moving average is $4.89. Exagen Inc. has a 12-month low of $2.59 and a 12-month high of $12.23.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.07. The business had revenue of $17.31 million for the quarter, compared to analysts’ expectations of $16.41 million. Exagen had a negative net margin of 29.49% and a negative return on equity of 94.37%. On average, equities research analysts predict that Exagen Inc. will post -0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on XGN shares. B. Riley Financial reissued a “buy” rating and issued a $8.00 target price (down from $18.00) on shares of Exagen in a report on Friday, January 30th. TD Cowen decreased their target price on Exagen from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Craig Hallum reduced their price target on shares of Exagen from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Canaccord Genuity Group decreased their price objective on shares of Exagen from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, April 20th. Finally, William Blair restated an “outperform” rating on shares of Exagen in a report on Tuesday, March 10th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

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.