Exagen (NASDAQ:XGN) Downgraded by Wall Street Zen to Sell

Exagen (NASDAQ:XGN) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other research analysts also recently commented on the company. William Blair restated an “outperform” rating on shares of Exagen in a research note on Tuesday. KeyCorp decreased their price target on Exagen from $15.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday. TD Cowen lowered their price target on shares of Exagen from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. B. Riley Financial restated a “buy” rating and issued a $8.00 price objective (down from $18.00) on shares of Exagen in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exagen in a research note on Wednesday, January 21st. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.57.

Exagen Trading Down 2.8%

Shares of XGN stock opened at $3.07 on Friday. The stock has a market capitalization of $69.57 million, a price-to-earnings ratio of -3.34 and a beta of 1.88. The company’s fifty day simple moving average is $4.06 and its two-hundred day simple moving average is $7.42. Exagen has a 1 year low of $2.91 and a 1 year high of $12.23. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.45 and a quick ratio of 4.08.

Exagen (NASDAQ:XGN) last posted its quarterly earnings results on Tuesday, March 10th. The company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). The firm had revenue of $16.63 million during the quarter, compared to analyst estimates of $16.46 million. Exagen had a negative return on equity of 105.03% and a negative net margin of 29.97%. As a group, analysts anticipate that Exagen will post -0.88 earnings per share for the current year.

Insider Buying and Selling

In other Exagen news, CEO John Aballi sold 15,698 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $3.62, for a total value of $56,826.76. Following the transaction, the chief executive officer directly owned 687,299 shares in the company, valued at $2,488,022.38. This represents a 2.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.60% of the stock is currently owned by insiders.

Institutional Trading of Exagen

A number of large investors have recently modified their holdings of the business. Truvestments Capital LLC grew its holdings in shares of Exagen by 109.5% during the fourth quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Exagen in the first quarter valued at approximately $25,000. Larson Financial Group LLC bought a new stake in Exagen during the third quarter valued at approximately $105,000. Persistent Asset Partners Ltd bought a new stake in Exagen during the fourth quarter valued at approximately $80,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Exagen in the 4th quarter worth approximately $82,000. Institutional investors own 75.25% of the company’s stock.

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.