Exagen (NASDAQ:XGN) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Exagen (NASDAQ:XGN) from a sell rating to a hold rating in a research note released on Saturday morning.

Other equities analysts have also recently issued reports about the stock. Craig Hallum dropped their price objective on shares of Exagen from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. William Blair reissued an “outperform” rating on shares of Exagen in a research note on Tuesday, March 10th. B. Riley Financial reissued a “buy” rating and issued a $8.00 price objective (down from $18.00) on shares of Exagen in a research note on Friday, January 30th. UBS Group set a $10.00 price objective on shares of Exagen in a research note on Wednesday, March 11th. Finally, TD Cowen dropped their price objective on shares of Exagen from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

Exagen Stock Up 0.3%

Shares of XGN stock opened at $2.95 on Friday. The company has a market capitalization of $71.21 million, a price-to-earnings ratio of -3.21 and a beta of 1.81. Exagen has a one year low of $2.59 and a one year high of $12.23. The company’s fifty day moving average price is $3.06 and its 200-day moving average price is $5.46. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.45 and a quick ratio of 3.45.

Exagen (NASDAQ:XGN) last announced its quarterly earnings data on Tuesday, March 10th. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $16.63 million for the quarter, compared to the consensus estimate of $16.46 million. Exagen had a negative net margin of 29.97% and a negative return on equity of 105.03%. Sell-side analysts expect that Exagen will post -0.77 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Exagen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new stake in shares of Exagen in the 1st quarter valued at about $25,000. Geode Capital Management LLC raised its holdings in shares of Exagen by 45.6% in the 2nd quarter. Geode Capital Management LLC now owns 146,483 shares of the company’s stock valued at $1,023,000 after purchasing an additional 45,884 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Exagen in the 2nd quarter valued at about $133,000. Russell Investments Group Ltd. bought a new stake in shares of Exagen in the 2nd quarter valued at about $1,540,000. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of Exagen in the 2nd quarter valued at about $138,000. Institutional investors own 75.25% of the company’s stock.

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.