FourWorld Capital Management LLC Acquires 166,950 Shares of Exagen Inc. $XGN

FourWorld Capital Management LLC raised its holdings in shares of Exagen Inc. (NASDAQ:XGN) by 61.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 439,950 shares of the company’s stock after buying an additional 166,950 shares during the period. Exagen comprises approximately 0.7% of FourWorld Capital Management LLC’s portfolio, making the stock its 15th largest position. FourWorld Capital Management LLC owned about 1.82% of Exagen worth $1,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Acadian Asset Management LLC bought a new stake in shares of Exagen in the 1st quarter valued at about $25,000. Truvestments Capital LLC grew its position in Exagen by 109.5% during the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in Exagen in the 4th quarter worth approximately $80,000. R Squared Ltd increased its stake in Exagen by 49.0% in the 1st quarter. R Squared Ltd now owns 27,107 shares of the company’s stock worth $81,000 after purchasing an additional 8,915 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Exagen in the fourth quarter valued at approximately $82,000. 75.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

XGN has been the topic of several recent analyst reports. Roth Capital assumed coverage on shares of Exagen in a report on Wednesday, June 24th. They issued a “buy” rating and a $8.00 target price on the stock. BTIG Research lowered their price target on shares of Exagen from $9.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Wall Street Zen raised shares of Exagen from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. Finally, Canaccord Genuity Group decreased their price objective on shares of Exagen from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Exagen has an average rating of “Moderate Buy” and an average price target of $9.11.

Exagen Price Performance

Shares of Exagen stock opened at $4.68 on Monday. The business has a 50 day moving average of $4.50 and a 200 day moving average of $3.89. Exagen Inc. has a 52 week low of $2.59 and a 52 week high of $12.23. The company has a market cap of $113.07 million, a PE ratio of -5.26 and a beta of 2.02. The company has a quick ratio of 3.47, a current ratio of 3.47 and a debt-to-equity ratio of 1.67.

Exagen (NASDAQ:XGN) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.07. The business had revenue of $17.31 million for the quarter, compared to analysts’ expectations of $16.41 million. Exagen had a negative net margin of 29.49% and a negative return on equity of 94.37%. As a group, equities research analysts forecast that Exagen Inc. will post -0.71 earnings per share for the current year.

Exagen Profile

Exagen Inc is a molecular diagnostics company focused on improving the detection and management of autoimmune diseases. Headquartered in the United States, the company develops, manufactures and markets laboratory tests designed to help clinicians address diagnostic challenges associated with complex connective tissue disorders.

The company’s flagship product portfolio, marketed under the Avise® brand, includes multi-analyte assays such as the Avise® Connective Tissue Disease (CTD) panel, Avise® Lupus panel and Avise® Sjögren’s panel.