Flputnam Investment Management Co. Invests $1.34 Million in Exagen Inc. $XGN

Flputnam Investment Management Co. acquired a new stake in Exagen Inc. (NASDAQ:XGN) in the 2nd quarter, HoldingsChannel reports. The fund acquired 288,810 shares of the company’s stock, valued at approximately $1,343,000.

A number of other institutional investors have also recently made changes to their positions in the business. Corient Private Wealth LP acquired a new stake in Exagen during the 2nd quarter worth approximately $52,000. Man Group plc purchased a new stake in shares of Exagen during the second quarter worth $778,000. BlackRock Inc. purchased a new stake in shares of Exagen during the second quarter worth $663,000. Bank of New York Mellon Corp acquired a new stake in shares of Exagen in the second quarter valued at $97,000. Finally, GSA Capital Partners LLP purchased a new position in Exagen in the second quarter valued at $998,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

Exagen Stock Performance

NASDAQ XGN opened at $7.39 on Monday. The company has a market cap of $179.06 million, a P/E ratio of -9.12 and a beta of 2.05. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.18 and a quick ratio of 3.18. The company has a 50-day moving average of $5.50 and a 200-day moving average of $4.21. Exagen Inc. has a 12 month low of $2.59 and a 12 month high of $12.23.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $17.80 million. As a group, equities analysts predict that Exagen Inc. will post -0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on XGN shares. TD Cowen lifted their price objective on shares of Exagen from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Exagen in a report on Friday, August 7th. B. Riley Financial reiterated a “buy” rating and set a $12.00 target price (up from $8.00) on shares of Exagen in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Exagen from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Roth Capital initiated coverage on Exagen in a research note on Wednesday, June 24th. They set a “buy” rating and a $8.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.62.

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.