Stonepine Capital Management LLC Acquires 175,701 Shares of Exagen Inc. (NASDAQ:XGN)

Stonepine Capital Management LLC grew its holdings in Exagen Inc. (NASDAQ:XGN) by 49.0% in the third quarter, HoldingsChannel reports. The fund owned 534,398 shares of the company’s stock after buying an additional 175,701 shares during the period. Exagen accounts for 1.0% of Stonepine Capital Management LLC’s portfolio, making the stock its 22nd largest position. Stonepine Capital Management LLC’s holdings in Exagen were worth $1,651,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of XGN. Verus Capital Partners LLC acquired a new position in Exagen in the third quarter valued at about $39,000. Creative Planning acquired a new position in Exagen in the third quarter valued at about $110,000. Renaissance Technologies LLC raised its stake in Exagen by 93.3% in the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock valued at $172,000 after purchasing an additional 45,476 shares in the last quarter. Finally, Palumbo Wealth Management LLC raised its stake in Exagen by 14.5% in the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after purchasing an additional 9,695 shares in the last quarter. Institutional investors own 75.25% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, William Blair reissued an “outperform” rating on shares of Exagen in a research note on Wednesday, November 13th.

Insider Buying and Selling at Exagen

In other Exagen news, CEO John Aballi acquired 24,305 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $2.81 per share, with a total value of $68,297.05. Following the completion of the acquisition, the chief executive officer now owns 689,799 shares of the company’s stock, valued at $1,938,335.19. This trade represents a 3.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 26.10% of the company’s stock.

Exagen Trading Down 0.8 %

Shares of XGN stock traded down $0.03 during trading hours on Wednesday, hitting $3.91. 4,749 shares of the company were exchanged, compared to its average volume of 46,023. Exagen Inc. has a fifty-two week low of $1.30 and a fifty-two week high of $4.83. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.05 and a current ratio of 4.05. The company has a 50 day simple moving average of $2.94 and a two-hundred day simple moving average of $2.52.

Exagen (NASDAQ:XGN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.02. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. The business had revenue of $12.51 million for the quarter, compared to analysts’ expectations of $13.55 million. During the same period last year, the business earned ($0.31) EPS. On average, research analysts forecast that Exagen Inc. will post -0.87 earnings per share for the current fiscal year.

Exagen 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).