Palumbo Wealth Management LLC Has $355,000 Stock Holdings in Exagen Inc. (NASDAQ:XGN)

Palumbo Wealth Management LLC increased its holdings in Exagen Inc. (NASDAQ:XGN) by 13.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,704 shares of the company’s stock after purchasing an additional 10,340 shares during the period. Palumbo Wealth Management LLC owned approximately 0.49% of Exagen worth $355,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Stonepine Capital Management LLC raised its position in Exagen by 49.0% in the third quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock worth $1,651,000 after purchasing an additional 175,701 shares in the last quarter. Creative Planning acquired a new stake in shares of Exagen during the third quarter worth approximately $110,000. Finally, Verus Capital Partners LLC acquired a new stake in shares of Exagen during the third quarter worth approximately $39,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

Insider Activity

In other news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $3.30, for a total transaction of $660,000.00. Following the sale, the insider now directly owns 2,108,958 shares of the company’s stock, valued at $6,959,561.40. This represents a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on XGN. William Blair reaffirmed an “outperform” rating on shares of Exagen in a report on Wednesday, November 13th. Canaccord Genuity Group raised their price objective on shares of Exagen from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price objective on shares of Exagen in a report on Monday, January 13th.

Exagen Price Performance

XGN opened at $4.23 on Friday. Exagen Inc. has a one year low of $1.30 and a one year high of $6.22. The company has a debt-to-equity ratio of 1.54, a current ratio of 4.05 and a quick ratio of 4.05. The company’s 50 day simple moving average is $4.33 and its 200-day simple moving average is $3.48.

Exagen Company 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).