On 17 Jan 2020, The USA based company Exagen Inc. moved with change of -2.85% to $23.5 with the total traded volume of 93888 shares in recent session versus to an average volume of 81.31K. XGN stock observed trading -21.29% off 52-week high price. On the other end, the stock has been noted 103.64% away from low price over the last 52-weeks. The stock disclosed a move of 12.04% away from 50 day moving average and 26.90% away from 200 day moving average. Moving closer, we can see that shares have been trading -4.82% off 20-day moving average.
Exagen Inc. (XGN) recently stated financial results for the quarter ended September 30, 2019.
Third Quarter 2019 Financial Results
Revenue for the three months ended September 30, 2019 was $10.4M, contrast with $8.2M in the third quarter of 2018. Testing revenues increased to $10.0M, or a 23% increase contrast to the third quarter of 2018, driven by record testing volumes in AVISE® CTD, including AVISE® Lupus. Revenue from our co-promotion efforts contributed to $0.4M in the third quarter of 2019.
Gross margins improved to 54% in the third quarter of 2019 contrast to 53% in the third quarter of 2018, driven by higher testing volumes.
Operating expenses increased to $12.6M in the third quarter of 2019, contrast with $9.4M in the third quarter of 2018, due primarily to a raise in selling, general, and administrative expenses associated with the salesforce expansion.
For the third quarter of 2019, net loss was $3.1M contrast to a net loss of $1.8M in the third quarter of 2018.
Cash and cash equivalents were about $77.8M as of September 30, 2019.
For the full year 2019, Exagen expects revenue to be in the range of $40M to $41M.
XGN’s shares are at 73.95% for the quarter and is now at -7.48% since this point in 2018. The average volatility for the week and month was at 5.56% and 10.44% respectively. There are 12.48M shares outstanding and 8.41M shares are floated in market.