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

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in shares of Exagen in the 1st quarter worth $25,000. Geode Capital Management LLC boosted its holdings in Exagen by 45.6% in the second quarter. Geode Capital Management LLC now owns 146,483 shares of the company’s stock valued at $1,023,000 after acquiring an additional 45,884 shares during the last quarter. XTX Topco Ltd purchased a new stake in Exagen during the second quarter valued at about $133,000. Russell Investments Group Ltd. purchased a new stake in Exagen during the second quarter valued at about $1,540,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Exagen during the second quarter worth about $138,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Roth Capital began coverage on Exagen in a report on Wednesday, June 24th. They issued a “buy” rating and a $8.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Exagen in a report on Friday, August 7th. TD Cowen increased their target price 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. BTIG Research raised their price target on shares of Exagen from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Exagen from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.62.

Exagen Stock Up 0.6%

Shares of NASDAQ XGN opened at $6.70 on Tuesday. The stock has a fifty day moving average price of $4.95 and a 200 day moving average price of $3.97. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 1.96. Exagen Inc. has a 12-month low of $2.59 and a 12-month high of $12.23. The company has a market cap of $162.34 million, a P/E ratio of -8.27 and a beta of 2.05.

Exagen (NASDAQ:XGN) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $19.94 million for the quarter, compared to analysts’ expectations of $17.80 million. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. Research analysts anticipate that Exagen Inc. will post -0.67 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.