Penbrook Management LLC Decreases Stake in Exagen Inc. (NASDAQ:XGN)

Penbrook Management LLC lessened its stake in shares of Exagen Inc. (NASDAQ:XGN) by 29.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 44,594 shares of the company’s stock after selling 18,361 shares during the quarter. Penbrook Management LLC’s holdings in Exagen were worth $183,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Stonepine Capital Management LLC raised its position in Exagen by 49.0% during the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock valued at $1,651,000 after purchasing an additional 175,701 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Exagen by 93.3% during the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock valued at $172,000 after buying an additional 45,476 shares during the period. Palumbo Wealth Management LLC raised its holdings in shares of Exagen by 14.5% during the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after acquiring an additional 9,695 shares in the last quarter. Creative Planning purchased a new stake in Exagen in the third quarter worth $110,000. Finally, Verus Capital Partners LLC purchased a new stake in Exagen in the third quarter worth $39,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on XGN. William Blair restated an “outperform” rating on shares of Exagen in a report on Wednesday, November 13th. Canaccord Genuity Group increased their price target on shares of Exagen from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 price objective on shares of Exagen in a report on Monday, January 13th.

Exagen Stock Performance

XGN opened at $4.07 on Thursday. Exagen Inc. has a 12-month low of $1.30 and a 12-month high of $6.22. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.54. The stock has a fifty day simple moving average of $4.23 and a two-hundred day simple moving average of $3.26.

Exagen (NASDAQ:XGN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.02. Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. The company had revenue of $12.51 million during the quarter, compared to analyst estimates of $13.55 million. During the same period last year, the business earned ($0.31) EPS. Equities research analysts expect that Exagen Inc. will post -0.88 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $3.30, for a total transaction of $660,000.00. Following the completion of the transaction, the insider now directly owns 2,108,958 shares in the company, valued at $6,959,561.40. This trade represents a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Aballi purchased 24,305 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $2.81 per share, for a total transaction of $68,297.05. Following the purchase, the chief executive officer now owns 689,799 shares in the company, valued at $1,938,335.19. This represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 26.10% of the company’s stock.

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).