John Aballi Sells 15,698 Shares of Exagen (NASDAQ:XGN) Stock

Exagen Inc. (NASDAQ:XGN) CEO John Aballi sold 15,698 shares of Exagen stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $3.62, for a total transaction of $56,826.76. Following the transaction, the chief executive officer directly owned 687,299 shares in the company, valued at $2,488,022.38. The trade was a 2.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

John Aballi also recently made the following trade(s):

• On Tuesday, February 24th, John Aballi sold 11,430 shares of Exagen stock. The stock was sold at an average price of $3.61, for a total value of $41,262.30.

Exagen Stock Down 10.3%

Shares of XGN stock opened at $3.22 on Friday. The firm has a fifty day moving average of $4.40 and a 200-day moving average of $7.70. Exagen Inc. has a 12-month low of $2.77 and a 12-month high of $12.23. The company has a market capitalization of $72.97 million, a price-to-earnings ratio of -3.50 and a beta of 1.88. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 1.35.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on XGN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Exagen in a research note on Wednesday, January 21st. BTIG Research dropped their price target on shares of Exagen from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. B. Riley Financial reaffirmed 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. Finally, TD Cowen lowered their target price on Exagen from $13.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.43.

Institutional Trading of Exagen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Truvestments Capital LLC boosted its holdings in Exagen by 109.5% during the fourth quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Exagen during the 1st quarter valued at $25,000. Larson Financial Group LLC purchased a new position in Exagen during the third quarter worth about $105,000. Persistent Asset Partners Ltd purchased a new stake in shares of Exagen during the 4th quarter valued at $80,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Exagen in the 4th quarter worth approximately $82,000. 75.25% of the stock is owned by institutional investors.

About Exagen

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.