Perceptive Advisors LLC Buys New Stake in Exagen Inc. $XGN

Perceptive Advisors LLC purchased a new position in shares of Exagen Inc. (NASDAQ:XGN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 114,893 shares of the company’s stock, valued at approximately $345,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in XGN. Bridgeway Capital Management LLC increased its holdings in Exagen by 10.3% in the second quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company’s stock valued at $194,000 after buying an additional 2,600 shares in the last quarter. Truvestments Capital LLC boosted its stake in shares of Exagen by 109.5% during the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares in the last quarter. State Street Corp boosted its stake in shares of Exagen by 6.9% during the 4th quarter. State Street Corp now owns 71,256 shares of the company’s stock worth $433,000 after acquiring an additional 4,600 shares in the last quarter. Palumbo Wealth Management LLC grew its position in shares of Exagen by 15.2% during the 4th quarter. Palumbo Wealth Management LLC now owns 43,345 shares of the company’s stock valued at $264,000 after acquiring an additional 5,718 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Exagen during the 1st quarter valued at about $25,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Weiss Ratings cut Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. Canaccord Genuity Group dropped their price objective on Exagen from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, April 20th. BTIG Research cut their price objective on Exagen from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. 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. Finally, Wall Street Zen upgraded Exagen from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Exagen presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Exagen Stock Down 3.0%

XGN opened at $4.53 on Friday. Exagen Inc. has a twelve month low of $2.59 and a twelve month high of $12.23. The company has a quick ratio of 3.47, a current ratio of 3.47 and a debt-to-equity ratio of 1.67. The company has a 50-day moving average price of $4.56 and a 200 day moving average price of $3.85. The company has a market cap of $109.44 million, a PE ratio of -5.09 and a beta of 2.02.

Exagen (NASDAQ:XGN) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.07. Exagen had a negative return on equity of 94.37% and a negative net margin of 29.49%.The firm had revenue of $17.31 million during the quarter, compared to analysts’ expectations of $16.41 million. Sell-side analysts expect that Exagen Inc. will post -0.71 earnings per share for the current fiscal year.

Exagen Profile

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.