Exagen Inc. (XGN) – What Are Investment Firms Thinking About This Stock?

Shares of Exagen Inc. (NASDAQ:XGN) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $10.12.

Several research firms recently weighed in on XGN. B. Riley Financial began coverage on Exagen in a report on Friday, September 11th. They set a “buy” rating and a $12.00 price target for the company. BTIG Research boosted their price target on Exagen from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Exagen in a report on Friday, August 7th. TD Cowen increased their price objective on Exagen from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. Finally, Canaccord Genuity Group increased their price objective on Exagen from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday.

Exagen Price Performance

Exagen stock opened at $7.48 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.18 and a quick ratio of 3.18. Exagen has a twelve month low of $2.59 and a twelve month high of $12.23. The company’s 50-day moving average price is $7.81 and its two-hundred day moving average price is $5.51.

Exagen (NASDAQ:XGN) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. The firm had revenue of $19.94 million during the quarter, compared to the consensus estimate of $17.80 million. On average, equities research analysts predict that Exagen will post -0.69 EPS for the current year.

Insider Transactions at Exagen

In related news, CEO John Aballi sold 34,294 shares of the firm’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $7.87, for a total transaction of $269,893.78. Following the transaction, the chief executive officer directly owned 805,540 shares of the company’s stock, valued at approximately $6,339,599.80. This trade represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Jorey Chernett purchased 14,000 shares of the stock in a transaction that occurred on Monday, October 19th. The shares were acquired at an average cost of $7.46 per share, for a total transaction of $104,440.00. Following the completion of the transaction, the insider owned 2,618,540 shares of the company’s stock, valued at $19,534,308.40. This trade represents a 0.54% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 10.40% of the company’s stock.

Institutional Trading of Exagen

A number of institutional investors have recently bought and sold shares of the business. Corient Private Wealth LP bought a new position in shares of Exagen during the second quarter worth approximately $52,000. Penbrook Management LLC acquired a new stake in shares of Exagen in the third quarter valued at approximately $92,000. Bank of New York Mellon Corp acquired a new stake in shares of Exagen in the second quarter valued at approximately $97,000. R Squared Ltd raised its position in shares of Exagen by 49.0% in the first quarter. R Squared Ltd now owns 27,107 shares of the company’s stock valued at $81,000 after buying an additional 8,915 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Exagen by 137.4% in the first quarter. Dimensional Fund Advisors LP now owns 62,571 shares of the company’s stock valued at $188,000 after buying an additional 36,213 shares during the period. Institutional investors own 75.25% of the company’s stock.

Exagen Company Profile

Exagen Inc (NASDAQ: XGN) is a diagnostic healthcare company focused on autoimmune diseases. The company develops and commercializes blood tests designed to help physicians diagnose, differentiate and monitor conditions such as systemic lupus erythematosus, rheumatoid arthritis and other connective tissue diseases.

Exagen’s principal product family is AVISE, a suite of proprietary autoimmune testing services that includes AVISE CTD, AVISE Lupus and monitoring tests. These assays combine multiple biomarkers and are intended to provide physicians with information that may support earlier or more informed clinical decisions, particularly in rheumatology.

Exagen operates a specialized laboratory testing business serving healthcare providers primarily in the United States.