Exagen (NASDAQ:XGN) Shares Down 2% – Time to Sell?

Exagen Inc. (NASDAQ:XGN) shares traded down 2% during trading on Monday. The company traded as low as $8.11 and last traded at $8.25. 200,901 shares traded hands during trading, a decline of 33% from the average session volume of 300,996 shares. The stock had previously closed at $8.42.

Analyst Ratings Changes

Several brokerages recently issued reports on XGN. Weiss Ratings reissued a “sell (e+)” rating on shares of Exagen in a research note on Friday, August 7th. TD Cowen increased their target price on shares of Exagen from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. BTIG Research increased their price target on Exagen from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Roth Capital began coverage on shares of Exagen in a research note on Wednesday, June 24th. They set a “buy” rating and a $8.00 price objective on the stock. Finally, B. Riley Financial initiated coverage on Exagen in a research note on Friday, September 11th. They issued a “buy” rating and a $12.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Exagen presently has a consensus rating of “Moderate Buy” and an average price target of $9.62.

Exagen Trading Down 2.0%

The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 1.96. The firm has a 50-day moving average price of $7.61 and a 200 day moving average price of $5.23. The company has a market cap of $199.90 million, a price-to-earnings ratio of -10.19 and a beta of 2.12.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. The business had revenue of $19.94 million for the quarter, compared to the consensus estimate of $17.80 million. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. As a group, sell-side analysts forecast that Exagen Inc. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in XGN. Flputnam Investment Management Co. acquired a new stake in shares of Exagen during the second quarter worth approximately $1,343,000. FourWorld Capital Management LLC boosted its position in shares of Exagen by 61.2% during the first quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company’s stock worth $1,320,000 after purchasing an additional 166,950 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Exagen in the 2nd quarter valued at approximately $998,000. Man Group plc acquired a new position in Exagen in the 2nd quarter worth $778,000. Finally, Sei Investments Co. grew its holdings in shares of Exagen by 107.0% during the first quarter. Sei Investments Co. now owns 244,240 shares of the company’s stock worth $733,000 after buying an additional 126,235 shares in the last quarter. Institutional investors and hedge funds own 75.25% of the company’s stock.

About Exagen

Exagen Inc (NASDAQ: XGN) is a diagnostic healthcare company focused on autoimmune diseases. The company develops and commercializes blood tests designed to help physicians diagnose, differentiate and monitor conditions such as systemic lupus erythematosus, rheumatoid arthritis and other connective tissue diseases.

Exagen’s principal product family is AVISE, a suite of proprietary autoimmune testing services that includes AVISE CTD, AVISE Lupus and monitoring tests. These assays combine multiple biomarkers and are intended to provide physicians with information that may support earlier or more informed clinical decisions, particularly in rheumatology.

Exagen operates a specialized laboratory testing business serving healthcare providers primarily in the United States.