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

Cantor Fitzgerald reissued their overweight rating on shares of Exagen (NASDAQ:XGN) in a research report report published on Monday morning,Benzinga reports. The firm currently has a $8.00 price objective on the stock.

XGN has been the topic of a number of other reports. Canaccord Genuity Group boosted their price target on shares of Exagen from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. William Blair reaffirmed an “outperform” rating on shares of Exagen in a report on Wednesday, November 13th.

Exagen Trading Up 4.0 %

XGN opened at $3.12 on Monday. The business’s 50 day moving average is $4.04 and its two-hundred day moving average is $3.12. The firm has a market cap of $55.03 million, a price-to-earnings ratio of -3.32 and a beta of 1.42. Exagen has a 52 week low of $1.30 and a 52 week high of $6.22. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 1.54.

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

Insider Buying and Selling at Exagen

In other Exagen news, CEO John Aballi purchased 24,305 shares of Exagen stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $2.81 per share, with a total value of $68,297.05. Following the purchase, the chief executive officer now directly owns 689,799 shares in the company, valued at $1,938,335.19. This trade represents a 3.65 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of Exagen stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $3.30, for a total value of $660,000.00. Following the completion of 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 position. The disclosure for this sale can be found here. 26.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Exagen

A number of hedge funds have recently made changes to their positions in XGN. Renaissance Technologies LLC lifted its stake 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 purchasing an additional 45,476 shares in the last quarter. Creative Planning purchased a new stake in shares of Exagen during the third quarter valued at approximately $110,000. Palumbo Wealth Management LLC increased its stake in Exagen by 14.5% during the 3rd quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock worth $236,000 after buying an additional 9,695 shares during the period. Verus Capital Partners LLC purchased a new stake in shares of Exagen during the third quarter worth about $39,000. Finally, Stonepine Capital Management LLC lifted its stake in shares of Exagen by 49.0% in the third quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock worth $1,651,000 after acquiring an additional 175,701 shares in the last quarter. Institutional investors and hedge funds own 75.25% of the company’s stock.

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).