Exagen (NASDAQ:XGN) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Exagen (NASDAQ:XGN) from a hold rating to a sell rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Exagen in a research note on Tuesday, March 10th. KeyCorp lowered their price target on shares of Exagen from $15.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, March 11th. Craig Hallum dropped their price objective on shares of Exagen from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. B. Riley Financial reiterated a “buy” rating and issued a $8.00 price objective (down from $18.00) on shares of Exagen in a research report on Friday, January 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Exagen in a research note on Wednesday, January 21st. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.57.

Exagen Stock Up 2.9%

Shares of Exagen stock opened at $3.16 on Friday. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 1.39. The business’s 50 day simple moving average is $4.01 and its 200-day simple moving average is $7.34. The stock has a market capitalization of $76.00 million, a price-to-earnings ratio of -3.43 and a beta of 1.88. Exagen has a twelve month low of $2.91 and a twelve month high of $12.23.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Tuesday, March 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $16.63 million for the quarter, compared to the consensus estimate of $16.46 million. Exagen had a negative return on equity of 105.03% and a negative net margin of 29.97%. Equities research analysts forecast that Exagen will post -0.88 earnings per share for the current year.

Insider Activity

In other news, CEO John Aballi sold 15,698 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $3.62, for a total value of $56,826.76. Following the completion of the transaction, the chief executive officer owned 687,299 shares of the company’s stock, valued at approximately $2,488,022.38. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On Exagen

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bridgeway Capital Management LLC grew its position in Exagen by 10.3% in 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. Calamos Advisors LLC increased its stake in Exagen by 3.5% during the 3rd quarter. Calamos Advisors LLC now owns 78,090 shares of the company’s stock valued at $858,000 after buying an additional 2,677 shares during the period. Truvestments Capital LLC raised its position in shares of 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 buying an additional 3,225 shares in the last quarter. State Street Corp raised its position in shares of Exagen by 6.9% during the 4th quarter. State Street Corp now owns 71,256 shares of the company’s stock worth $433,000 after buying an additional 4,600 shares in the last quarter. Finally, Huntleigh Advisors Inc. lifted its stake in shares of Exagen by 6.3% in the 3rd quarter. Huntleigh Advisors Inc. now owns 93,353 shares of the company’s stock worth $1,026,000 after acquiring an additional 5,492 shares during the period. 75.25% of the stock is currently owned by institutional investors.

About Exagen

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.