Exagen (NASDAQ:XGN) Shares Up 4.2% – Here’s What Happened
by Danessa Lincoln · The Markets DailyExagen Inc. (NASDAQ:XGN – Get Free Report) shot up 4.2% during trading on Friday . The company traded as high as $4.70 and last traded at $4.67. 145,515 shares changed hands during trading, a decline of 64% from the average session volume of 401,624 shares. The stock had previously closed at $4.48.
Analysts Set New Price Targets
A number of research firms have recently commented on XGN. Canaccord Genuity Group dropped their price objective on shares of Exagen from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Wall Street Zen raised shares of Exagen from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. UBS Group set a $10.00 price objective on shares of Exagen in a research note on Wednesday, March 11th. Finally, KeyCorp dropped their price objective on shares of Exagen from $15.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, March 11th. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Exagen currently has a consensus rating of “Moderate Buy” and an average price target of $9.25.
Read Our Latest Report on Exagen
Exagen Stock Performance
The stock’s 50-day moving average is $3.64 and its 200-day moving average is $4.39. The stock has a market cap of $112.83 million, a price-to-earnings ratio of -5.25 and a beta of 2.02. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 1.67.
Exagen (NASDAQ:XGN – Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.07. The firm had revenue of $17.31 million during the quarter, compared to the consensus estimate of $16.41 million. Exagen had a negative net margin of 29.49% and a negative return on equity of 94.37%. On average, analysts expect that Exagen Inc. will post -0.68 EPS for the current year.
Hedge Funds Weigh In On Exagen
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Balyasny Asset Management L.P. boosted its holdings in Exagen by 27.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 919,187 shares of the company’s stock worth $5,589,000 after acquiring an additional 195,759 shares during the period. Vanguard Group Inc. boosted its holdings in Exagen by 7.7% in 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 period. Invesco Ltd. purchased a new position in Exagen in the 3rd quarter worth approximately $7,420,000. Kennedy Capital Management LLC boosted 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 worth $6,065,000 after acquiring an additional 241,127 shares during the period. Finally, Wexford Capital LP boosted its holdings in Exagen by 6.9% in 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 period. Hedge funds and other 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.