Exagen (NASDAQ:XGN) Shares Down 2% – What’s Next?

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

Analysts Set New Price Targets

Several research analysts have commented on XGN shares. Roth Capital began coverage on Exagen in a research note on Wednesday, June 24th. They set a “buy” rating and a $8.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Exagen in a research note on Friday, August 7th. B. Riley Financial started coverage on shares of Exagen in a report on Friday, September 11th. They issued a “buy” rating and a $12.00 target price for the company. 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. Finally, BTIG Research lifted their target price on shares of Exagen from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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 market capitalization of $199.90 million, a P/E ratio of -10.19 and a beta of 2.12. The stock has a 50 day simple moving average of $7.61 and a 200-day simple moving average of $5.23.

Exagen (NASDAQ:XGN) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. The firm had revenue of $19.94 million during the quarter, compared to analyst estimates of $17.80 million. On average, equities research analysts forecast that Exagen Inc. will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Exagen

A number of large investors have recently bought and sold shares of the business. Flputnam Investment Management Co. bought a new position in Exagen in the second quarter worth about $1,343,000. Corient Private Wealth LP bought a new stake in shares of Exagen in the 2nd quarter valued at about $52,000. Man Group plc bought a new stake in shares of Exagen in the 2nd quarter valued at about $778,000. BlackRock Inc. purchased a new position in shares of Exagen in the 2nd quarter worth approximately $663,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Exagen in the 2nd quarter worth approximately $97,000. Institutional investors own 75.25% of the company’s stock.

Exagen Company Profile

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.