Exagen (NASDAQ:XGN) Stock Rating Lowered by Wall Street Zen

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

XGN has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Exagen in a research report on Wednesday, January 21st. Canaccord Genuity Group decreased their target price on Exagen from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. TD Cowen dropped their price target on Exagen from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. KeyCorp cut 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, March 11th. Finally, Craig Hallum reduced their price objective on Exagen from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.57.

Exagen Price Performance

XGN stock opened at $3.07 on Friday. The business has a 50 day moving average price of $4.06 and a 200 day moving average price of $7.39. The stock has a market cap of $73.83 million, a price-to-earnings ratio of -3.34 and a beta of 1.88. Exagen has a fifty-two week low of $2.91 and a fifty-two week high of $12.23. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 1.39.

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

Insider Buying and Selling at Exagen

In other Exagen news, CEO John Aballi sold 15,698 shares of Exagen stock in a transaction that occurred on 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 approximately $2,488,022.38. This trade represents a 2.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On Exagen

Several hedge funds have recently modified their holdings of XGN. Balyasny Asset Management L.P. grew its position in Exagen by 27.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 919,187 shares of the company’s stock valued at $5,589,000 after buying an additional 195,759 shares during the last quarter. Vanguard Group Inc. raised 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 buying an additional 52,205 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of Exagen in the 3rd quarter worth $7,420,000. Kennedy Capital Management LLC lifted its stake in shares of 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 shares of Exagen by 6.9% in the third quarter. Wexford Capital LP now owns 444,927 shares of the company’s stock valued at $4,890,000 after acquiring an additional 28,579 shares in 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.