Nano Cap New Millennium Growth Fund L P Takes $1.52 Million Position in Exagen Inc. $XGN

Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Exagen Inc. (NASDAQ:XGN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 250,000 shares of the company’s stock, valued at approximately $1,520,000. Exagen accounts for about 1.3% of Nano Cap New Millennium Growth Fund L P’s investment portfolio, making the stock its 19th largest holding. Nano Cap New Millennium Growth Fund L P owned approximately 1.10% of Exagen as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of Exagen in the first quarter valued at approximately $25,000. Geode Capital Management LLC grew its holdings in Exagen by 45.6% during the second quarter. Geode Capital Management LLC now owns 146,483 shares of the company’s stock worth $1,023,000 after purchasing an additional 45,884 shares during the period. XTX Topco Ltd bought a new position in Exagen during the second quarter worth about $133,000. Russell Investments Group Ltd. bought a new position in Exagen during the second quarter worth $1,540,000. Finally, Occudo Quantitative Strategies LP bought a new position in Exagen during the second quarter worth $138,000. 75.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on XGN shares. Craig Hallum dropped their price objective on Exagen from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. BTIG Research lowered their price objective on Exagen from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings lowered shares of Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. Wall Street Zen raised Exagen from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Canaccord Genuity Group cut their price target on Exagen from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.25.

Exagen Trading Up 11.5%

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

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

Insiders Place Their Bets

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

Exagen 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.