Exagen (NASDAQ:XGN) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Exagen (NASDAQ:XGN) in a research report sent to investors on Monday morning,Benzinga reports. Cantor Fitzgerald currently has a $8.00 price target on the stock.

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

Exagen Stock Performance

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

Exagen (NASDAQ:XGN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.02. The firm had revenue of $12.51 million for the quarter, compared to the consensus estimate of $13.55 million. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. During the same quarter in the previous year, the business earned ($0.31) EPS. As a group, sell-side analysts forecast that Exagen will post -0.87 earnings per share for the current year.

Insider Activity at Exagen

In other news, CEO John Aballi bought 24,305 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average cost of $2.81 per share, for a total transaction of $68,297.05. Following the completion of the purchase, the chief executive officer now owns 689,799 shares of the company’s stock, valued at $1,938,335.19. This trade represents a 3.65 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $3.30, for a total transaction of $660,000.00. Following the transaction, the insider now directly owns 2,108,958 shares of the company’s stock, valued at $6,959,561.40. The trade was a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in Exagen by 93.3% during the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock worth $172,000 after buying an additional 45,476 shares during the last quarter. Creative Planning acquired a new stake in shares of Exagen in the third quarter valued at approximately $110,000. Verus Capital Partners LLC bought a new stake in shares of Exagen during the third quarter worth $39,000. Palumbo Wealth Management LLC lifted its stake in shares of Exagen by 14.5% during the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after acquiring an additional 9,695 shares during the period. Finally, Stonepine Capital Management LLC boosted its stake in shares of Exagen by 49.0% in the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock valued at $1,651,000 after purchasing an additional 175,701 shares during the last quarter. 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).