[SCHEDULE 13G/A] Exagen Inc. SEC Filing

Rhea-AI Filing Summary

RTW Investments, LP and Roderick Wong, M.D. filed Amendment No. 5 to a Schedule 13G reporting ownership in Exagen Inc. (Common Stock, CUSIP 30068X103). The Reporting Persons disclose beneficial ownership of 1,696,866 shares, representing 7.7% of the class based on 21,998,739 shares outstanding as of June 30, 2025, per the issuer's quarterly report filed July 29, 2025. The filing shows shared voting and shared dispositive power over these shares and no sole voting or dispositive power. The RTW Funds have the right to receive dividends or proceeds. The statement is signed on 08/14/2025 and is filed as a passive Schedule 13G amendment.

Positive

• Material disclosure of ownership: RTW Investments and Roderick Wong report 1,696,866 shares (7.7%) of Exagen, providing market transparency
• Passive intent stated: The filing certifies the securities are held in the ordinary course and not to influence control

Negative

• No sole voting or dispositive power: The Reporting Persons report 0 shares of sole voting or dispositive power, indicating shared control only

Insights

Securities Analyst

Institutional holder reports a material passive stake; ownership disclosed as shared, not controlling.

This Schedule 13G/A notifies the market that RTW Investments and its managing partner hold 1,696,866 Exagen shares, equal to 7.7% of outstanding stock based on the company’s June 30, 2025 share count. The filing is an amendment (No. 5) and classifies the position as held in the ordinary course, consistent with a passive investor profile under Schedule 13G. The disclosure provides transparency on concentration of ownership and voting/dispositive arrangements but does not indicate any intent to influence control.

Corporate Governance Expert

7.7% beneficial stake is material for governance disclosure but is presented as shared, not sole, authority.

The report identifies shared voting and dispositive power for both RTW Investments and Roderick Wong, with zero sole power. The RTW Funds are noted as having rights to dividends and sale proceeds. As a Schedule 13G filing, this signals passive reporting status rather than an active change-in-control filing, providing investors with useful information about ownership concentration without signaling governance activism.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Exagen Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

30068X103

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 30068X103

1

Names of Reporting Persons

RTW Investments, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,696,866.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,696,866.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,696,866.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.7 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. 30068X103

1

Names of Reporting Persons

Roderick Wong

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,696,866.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,696,866.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,696,866.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.7 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Exagen Inc.
(b)	Address of issuer's principal executive offices: 1261 Liberty Way, Vista, CA, 92081.
Item 2.
(a)	Name of person filing: This statement is filed by. (i) RTW Investments, LP ("RTW Investments"), a Delaware limited partnership, and the investment adviser to certain funds (the "RTW Funds"), with respect to the Shares (as defined in Item 2(d) below) directly held by the RTW Funds; and (ii) Roderick Wong, M.D. ("Dr. Wong"), the Managing Partner and Chief Investment Officer of RTW Investments, with respect to the Shares directly held by the RTW Funds. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the Shares reported herein.
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is 40 10th Avenue, Floor 7, New York, New York 10014.
(c)	Citizenship: RTW Investments is a Delaware limited partnership. Dr. Wong is a citizen of the United States.
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 30068X103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Items 4(a) - (c) is set forth in Rows 5 - 11 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentages set forth herein are calculated based upon 21,998,739 Shares outstanding as of June 30, 2025, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025, filed with the Securities and Exchange Commission on July 29, 2025.
(b)	Percent of class:
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote:
	(ii) Shared power to vote or to direct the vote:
	(iii) Sole power to dispose or to direct the disposition of:
	(iv) Shared power to dispose or to direct the disposition of:
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 2. The RTW Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

RTW Investments, LP

Signature:	/s/ Roderick Wong, M.D.
Name/Title:	Roderick Wong, M.D., Managing Partner
Date:	08/14/2025

Roderick Wong

Signature:	s/ Roderick Wong, M.D.
Name/Title:	Roderick Wong, M.D.
Date:	08/14/2025

FAQ

How many Exagen (XGN) shares does RTW Investments report owning?

The filing reports 1,696,866 shares, representing 7.7% of the class.

On what share count is the 7.7% ownership based?

The percentage is calculated using 21,998,739 shares outstanding as of June 30, 2025, per the issuer's quarterly report filed July 29, 2025.

Does RTW Investments have sole voting or dispositive power over the reported shares?

No. The filing shows 0 shares with sole voting or sole dispositive power and 1,696,866 shares with shared voting and dispositive power.

What filing was submitted and when was it signed?

An Amendment No. 5 to Schedule 13G was filed and signed on 08/14/2025.

Do the RTW Funds have rights to dividends or sale proceeds for these shares?

Yes. The filing states the RTW Funds have the right to receive dividends or the proceeds from sale of the reported shares.