Exagen Inc. (NASDAQ:XGN) Given Average Rating of “Moderate Buy” by Analysts

Exagen Inc. (NASDAQ:XGN) has earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and eight have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $9.25.

A number of analysts recently issued reports on XGN shares. Craig Hallum dropped their price objective on Exagen from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. KeyCorp dropped their price objective on Exagen from $15.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, March 11th. Canaccord Genuity Group dropped their price objective on Exagen from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, April 20th. BTIG Research dropped their price objective on Exagen from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Exagen in a report on Tuesday, March 10th.

Insider Buying and Selling at Exagen

In other Exagen news, CEO John Aballi sold 15,698 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $3.62, for a total value of $56,826.76. Following the sale, the chief executive officer owned 687,299 shares of the company’s stock, valued at $2,488,022.38. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.60% of the stock is currently owned by insiders.

Institutional Trading of Exagen

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bridgeway Capital Management LLC raised its position in shares of Exagen by 10.3% during the 2nd quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company’s stock valued at $194,000 after buying an additional 2,600 shares in the last quarter. Truvestments Capital LLC increased its stake in Exagen by 109.5% in the fourth quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares during the last quarter. State Street Corp raised its position in Exagen by 6.9% during the fourth quarter. State Street Corp now owns 71,256 shares of the company’s stock valued at $433,000 after purchasing an additional 4,600 shares in the last quarter. Huntleigh Advisors Inc. raised its position in Exagen by 6.3% during the third quarter. Huntleigh Advisors Inc. now owns 93,353 shares of the company’s stock valued at $1,026,000 after purchasing an additional 5,492 shares in the last quarter. Finally, Palumbo Wealth Management LLC raised its position in Exagen by 15.2% during the fourth quarter. Palumbo Wealth Management LLC now owns 43,345 shares of the company’s stock valued at $264,000 after purchasing an additional 5,718 shares in the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Exagen Stock Performance

Shares of XGN opened at $4.26 on Tuesday. The stock’s 50-day simple moving average is $3.14 and its 200 day simple moving average is $4.79. The stock has a market capitalization of $102.92 million, a price-to-earnings ratio of -4.79 and a beta of 1.81. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.47 and a current ratio of 3.47. Exagen has a 52-week low of $2.59 and a 52-week high of $12.23.

Exagen (NASDAQ:XGN) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 94.37% and a negative net margin of 29.49%. Research analysts forecast that Exagen will post -0.68 EPS for the current fiscal year.

Exagen Company 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.