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

Cantor Fitzgerald restated their overweight rating on shares of Exagen (NASDAQ:XGN) in a report issued on Monday,Benzinga reports. The firm currently has a $8.00 price target on the stock.

Several other analysts also recently issued reports on XGN. Canaccord Genuity Group upped their price objective on shares of Exagen from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. William Blair reaffirmed an “outperform” rating on shares of Exagen in a report on Wednesday, November 13th.

Exagen Stock Performance

Shares of XGN opened at $3.12 on Monday. The company’s fifty day moving average is $4.03 and its 200-day moving average is $3.11. Exagen has a 12 month low of $1.30 and a 12 month high of $6.22. The firm has a market cap of $55.03 million, a price-to-earnings ratio of -3.32 and a beta of 1.42. 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 quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate 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 company had revenue of $12.51 million for the quarter, compared to analyst estimates of $13.55 million. During the same quarter in the prior year, the business posted ($0.31) EPS. Equities analysts expect that Exagen will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Exagen news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the 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 $6,959,561.40. This represents a 8.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Aballi purchased 24,305 shares of Exagen stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of $2.81 per share, with a total value of $68,297.05. Following the completion of the acquisition, the chief executive officer now owns 689,799 shares in the company, valued at approximately $1,938,335.19. This trade represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 26.10% of the stock is owned by insiders.

Institutional Trading of Exagen

A number of hedge funds have recently bought and sold shares of the stock. Stonepine Capital Management LLC lifted its holdings in shares of Exagen by 49.0% during the 3rd 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 during the period. Renaissance Technologies LLC lifted its holdings in shares of Exagen by 93.3% during the 2nd quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock worth $172,000 after acquiring an additional 45,476 shares during the period. Palumbo Wealth Management LLC lifted its holdings in shares of 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 acquiring an additional 9,695 shares during the period. Creative Planning bought a new position in shares of Exagen during the 3rd quarter worth about $110,000. Finally, Verus Capital Partners LLC bought a new position in shares of Exagen during the 3rd quarter worth about $39,000. 75.25% of the stock is owned by institutional investors.

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).