Exagen Inc. sold 502,500 shares at $5.25 each, generating approximately $20.2 million in gross proceeds.
Quiver AI Summary
Exagen Inc., a provider of autoimmune testing solutions, has completed the sale of 502,500 additional shares of its common stock at a public offering price of $5.25 per share. This sale, which follows the full exercise of an underwriter's option, is part of a previously announced offering of 3,350,000 shares that closed on May 9, 2025, generating approximately $20.2 million in gross proceeds before expenses. Canaccord Genuity acted as the sole bookrunner for the offering, which was conducted under a shelf registration statement effective since November 29, 2023. Exagen is committed to improving care for patients with autoimmune diseases through its innovative testing solutions, including its flagship product, AVISE® CTD, which enhances the diagnosis of conditions like lupus and rheumatoid arthritis.
Potential Positives
- Exagen completed the sale of 502,500 additional shares at a public offering price of $5.25 per share, generating approximately $20.2 million in gross proceeds before expenses.
- The successful completion of this offering demonstrates investor confidence in Exagen's financial stability and growth potential.
- Exagen's ongoing commitment to autoimmune diagnostics is highlighted by the significant funding raised, which can be utilized for further innovation and research in its testing solutions.
Potential Negatives
- The company’s stock dilution due to the sale of 502,500 additional shares may negatively affect existing shareholders by lowering their ownership percentage and potentially decreasing the share price.
- The need for a public offering to raise approximately $20.2 million could indicate financial instability or a pressing need for capital, which may raise concerns among investors regarding the company's financial health.
FAQ
What recent stock sale did Exagen Inc. complete?
Exagen completed a sale of 502,500 shares at $5.25 per share, raising approximately $20.2 million.
Who acted as the bookrunner for Exagen's public offering?
Canaccord Genuity acted as the sole bookrunner for the public offering.
Where can I find the prospectus for Exagen's stock offering?
The prospectus can be found on the SEC's website or obtained from Canaccord Genuity LLC.
What is Exagen Inc.'s primary focus?
Exagen focuses on providing autoimmune diagnostics and improving clinical outcomes for patients with autoimmune conditions.
What is the flagship product of Exagen Inc.?
Exagen's flagship product is AVISE® CTD, which aids in diagnosing complex autoimmune conditions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$XGN Insider Trading Activity
$XGN insiders have traded $XGN stock on the open market 4 times in the past 6 months. Of those trades, 2 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $XGN stock by insiders over the last 6 months:
- CO-INVESTMENT FUND, L.P. NMSIC has made 0 purchases and 2 sales selling 550,000 shares for an estimated $1,815,040.
- JOHN ABALLI (President and CEO) purchased 24,305 shares for an estimated $68,297
- JEFFREY G. BLACK (Chief Financial Officer) purchased 22,298 shares for an estimated $66,448
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$XGN Hedge Fund Activity
We have seen 17 institutional investors add shares of $XGN stock to their portfolio, and 18 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- TORONTO DOMINION BANK added 891,366 shares (+inf%) to their portfolio in Q4 2024, for an estimated $3,654,600
- WASATCH ADVISORS LP removed 447,230 shares (-91.2%) from their portfolio in Q4 2024, for an estimated $1,833,642
- DRIEHAUS CAPITAL MANAGEMENT LLC added 418,505 shares (+inf%) to their portfolio in Q4 2024, for an estimated $1,715,870
- STONEPINE CAPITAL MANAGEMENT, LLC removed 283,349 shares (-53.0%) from their portfolio in Q4 2024, for an estimated $1,161,730
- HUNTLEIGH ADVISORS, INC. removed 71,169 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $255,496
- RENAISSANCE TECHNOLOGIES LLC removed 20,064 shares (-11.4%) from their portfolio in Q4 2024, for an estimated $82,262
- MARSHALL WACE, LLP added 16,048 shares (+inf%) to their portfolio in Q4 2024, for an estimated $65,796
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$XGN Analyst Ratings
Wall Street analysts have issued reports on $XGN in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- BTIG issued a "Buy" rating on 05/07/2025
To track analyst ratings and price targets for $XGN, check out Quiver Quantitative's $XGN forecast page.
Full Release
CARLSBAD, Calif., May 09, 2025 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, today announced that it has completed the sale of an additional 502,500 shares of its common stock at a public offering price of $5.25 per share on May 8, 2025, pursuant to the full exercise of the option granted by Exagen to the underwriter in connection with its previously announced public offering of 3,350,000 shares of common stock, which closed on May 9, 2025.
All of the shares in the public offering, including the full exercise of the underwriter’s option, were sold by Exagen, with gross proceeds to Exagen of approximately $20.2 million, before deducting underwriting discounts and commissions and offering expenses.
Canaccord Genuity acted as sole bookrunner for the offering.
The public offering was made pursuant to a shelf registration statement on Form S-3 (including a base prospectus) that was previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on November 29, 2023. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov , and may be obtained from Canaccord Genuity LLC, Attention: Syndication Department, 1 Post Office Square, Suite 3000, Boston, MA 02109, or by email at [email protected] .
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Exagen
Exagen Inc. (Nasdaq: XGN) is a leading provider of autoimmune diagnostics, committed to transforming care for patients with chronic and debilitating autoimmune conditions. Based in San Diego County, California, Exagen’s mission is to provide clarity in autoimmune disease decision making and improve clinical outcomes through its innovative testing portfolio. The Company’s flagship product, AVISE ® CTD, enables clinicians to more effectively diagnose complex autoimmune conditions such as lupus, rheumatoid arthritis, and Sjögren’s syndrome earlier and with greater accuracy. Exagen’s laboratory specializes in the testing of rheumatic diseases, delivering precise and timely results, supported by a full suite of AVISE ® -branded tests for disease diagnosis, prognosis, and monitoring. With a focus on research, innovation, education, and patient-centered care, Exagen is dedicated to addressing the ongoing challenges of autoimmune disease management. For more information, please visit Exagen.com or follow @ExagenInc on X.
Contact
Ryan Douglas
Exagen Inc.
[email protected]
760.560.1525
