Exagen’s (XGN) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Exagen (NASDAQ:XGN) in a report issued on Monday,Benzinga reports. They currently have a $8.00 price target on the stock.

A number of other brokerages have also issued reports on XGN. William Blair reaffirmed an “outperform” rating on shares of Exagen in a research report on Wednesday, November 13th. Canaccord Genuity Group upped their target price on Exagen from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, January 3rd.

Exagen Stock Down 1.6 %

Shares of NASDAQ:XGN opened at $3.12 on Monday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.05 and a current ratio of 4.05. Exagen has a 1 year low of $1.30 and a 1 year high of $6.22. The stock has a market capitalization of $55.03 million, a P/E ratio of -3.32 and a beta of 1.42. The stock has a 50-day simple moving average of $4.03 and a 200-day simple moving average of $3.11.

Exagen (NASDAQ:XGN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. The business had revenue of $12.51 million during the quarter, compared to analysts’ expectations of $13.55 million. During the same quarter in the previous year, the business earned ($0.31) EPS. Equities analysts forecast that Exagen will post -0.87 earnings per share for the current year.

Insider Transactions at Exagen

In related news, CEO John Aballi purchased 24,305 shares of Exagen stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $2.81 per share, with a total value of $68,297.05. Following the purchase, the chief executive officer now owns 689,799 shares in the company, valued at approximately $1,938,335.19. The trade was a 3.65 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $3.30, for a total transaction of $660,000.00. Following the sale, the insider now directly owns 2,108,958 shares of the company’s stock, valued at approximately $6,959,561.40. This represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 26.10% of the company’s stock.

Institutional Trading of Exagen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stonepine Capital Management LLC lifted its position in shares of Exagen by 49.0% in the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock valued at $1,651,000 after acquiring an additional 175,701 shares in the last quarter. Verus Capital Partners LLC purchased a new stake in shares of Exagen in the 3rd quarter valued at approximately $39,000. Palumbo Wealth Management LLC lifted its position in shares of Exagen by 14.5% in the 3rd quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after acquiring an additional 9,695 shares in the last quarter. Creative Planning purchased a new stake in shares of Exagen in the 3rd quarter valued at approximately $110,000. Finally, Renaissance Technologies LLC lifted its position in shares of Exagen by 93.3% in the 2nd quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock valued at $172,000 after acquiring an additional 45,476 shares in the last quarter. 75.25% of the stock is owned by institutional investors and hedge funds.

Exagen Company Profile

Exagen Inc develops and commercializes various testing products under the AVISE brand in the United States. The company enables healthcare providers to care for patients through the diagnosis, prognosis, and monitoring of autoimmune and autoimmune-related diseases, including systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA).