Exagen Inc. (NASDAQ:XGN) Receives Average Rating of “Moderate Buy” from Analysts

Exagen Inc. (NASDAQ:XGN) has earned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $11.4286.

A number of brokerages recently issued reports on XGN. Weiss Ratings restated a “sell (d-)” rating on shares of Exagen in a report on Wednesday, January 21st. BTIG Research decreased their target price on shares of Exagen from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. B. Riley Financial restated a “buy” rating and set a $8.00 price objective (down from $18.00) on shares of Exagen in a research note on Friday, January 30th. Finally, TD Cowen cut their target price 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.

Exagen Trading Up 4.7%

NASDAQ XGN opened at $3.59 on Thursday. Exagen has a 12 month low of $2.77 and a 12 month high of $12.23. The stock has a 50-day simple moving average of $4.46 and a 200 day simple moving average of $7.73. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $81.35 million, a PE ratio of -3.90 and a beta of 1.88.

Insider Buying and Selling at Exagen

In other news, CEO John Aballi sold 15,698 shares of Exagen stock in a transaction on Tuesday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $2,488,022.38. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On Exagen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. grew its stake in shares of Exagen by 27.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 919,187 shares of the company’s stock worth $5,589,000 after buying an additional 195,759 shares during the last quarter. Vanguard Group Inc. grew its position in Exagen by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 733,824 shares of the company’s stock worth $8,065,000 after acquiring an additional 52,205 shares during the last quarter. Invesco Ltd. bought a new stake in Exagen during the 3rd quarter worth $7,420,000. Kennedy Capital Management LLC raised its holdings in Exagen by 77.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 551,848 shares of the company’s stock valued at $6,065,000 after buying an additional 241,127 shares during the last quarter. Finally, Wexford Capital LP grew its holdings in Exagen by 6.9% during the 3rd quarter. Wexford Capital LP now owns 444,927 shares of the company’s stock worth $4,890,000 after acquiring an additional 28,579 shares during the last quarter. 75.25% of the stock is owned by institutional investors and hedge funds.

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.