Exagen (NASDAQ:XGN) Issues Quarterly Earnings Results

Exagen (NASDAQ:XGN) issued its quarterly earnings data on Tuesday. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20), FiscalAI reports. The business had revenue of $16.63 million during the quarter, compared to analysts’ expectations of $16.46 million. Exagen had a negative net margin of 29.94% and a negative return on equity of 113.48%.

Exagen Stock Performance

Exagen stock opened at $3.38 on Tuesday. Exagen has a 12-month low of $2.77 and a 12-month high of $12.23. The company has a debt-to-equity ratio of 1.35, a current ratio of 4.08 and a quick ratio of 4.08. The company has a market capitalization of $76.59 million, a price-to-earnings ratio of -3.67 and a beta of 1.88. The firm’s fifty day moving average price is $4.30 and its 200 day moving average price is $7.58.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exagen in a report on Wednesday, January 21st. BTIG Research cut their price target on Exagen from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. B. Riley Financial restated a “buy” rating and set a $8.00 target price (down from $18.00) on shares of Exagen in a research report on Friday, January 30th. Finally, TD Cowen decreased their price objective on Exagen from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.43.

Insiders Place Their Bets

In other Exagen news, CEO John Aballi sold 15,698 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $3.62, for a total transaction of $56,826.76. Following the completion of the transaction, the chief executive officer directly owned 687,299 shares of the company’s stock, 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. 12.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Exagen

Several institutional investors have recently modified their holdings of XGN. Bridgeway Capital Management LLC raised its position in shares of Exagen by 10.3% during the second quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company’s stock worth $194,000 after acquiring an additional 2,600 shares during the last quarter. Truvestments Capital LLC raised its holdings in shares of Exagen by 109.5% during the fourth quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares during the period. State Street Corp lifted its holdings in shares of Exagen by 6.9% in the fourth quarter. State Street Corp now owns 71,256 shares of the company’s stock valued at $433,000 after purchasing an additional 4,600 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Exagen during the first quarter worth about $25,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Exagen by 3.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 229,115 shares of the company’s stock worth $2,518,000 after acquiring an additional 8,499 shares in the last quarter. Institutional investors and hedge funds own 75.25% of the company’s stock.

Exagen Company 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.