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Exagen Inc . (NASDAQ:XGN) recently witnessed a significant transaction involving its common stock. NMSIC Co-Investment Fund, L.P., a ten percent owner of the company, sold 350,000 shares at a price of $3.30 per share, totaling approximately $1.16 million. The sale comes as XGN’s stock has shown remarkable strength, surging 172% over the past year and 15% in the last week alone, with the current trading price at $4.24. According to InvestingPro analysis, the stock is currently trading near its Fair Value, while analyst price targets range from $5 to $8. This transaction, dated March 25, 2025, leaves NMSIC with 1,758,958 shares remaining.
The shares are held by NMSIC Co-Investment Fund, with Sun Mountain Capital Partners (WA:CPAP) LLC acting as the general partner. The controlling members of Sun Mountain include Brian Birk, Sally Coming, and Lee Rand. According to a footnote in the filing, these entities and individuals may share beneficial ownership of the shares, though they disclaim such ownership.
In other recent news, Exagen Inc. reported a 6% increase in full-year revenue for 2024, reaching $55.6 million. The company’s gross margin improved to nearly 60%, up from 56% the previous year. Exagen launched new biomarkers for its Advise CTD test, enhancing diagnostic sensitivity, which contributed to this positive financial performance. The company also announced plans to expand its sales territories and expects high single-digit volume growth, aiming for adjusted EBITDA positivity by the fourth quarter of 2025. BTIG analyst Mark Massaro maintained a Buy rating for Exagen, citing the company’s successful product launches and management’s effective cost control. Exagen’s leadership team, including CEO John Aballi and CFO Jeff Black, was commended for expanding gross margins and reducing operational expenses. The company’s new biomarkers are anticipated to drive higher average selling prices, potentially adding $90 per test throughout 2025. Exagen’s strategic initiatives and strong financial results have positioned it well for future growth.
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