Exagen Inc. (XGN) - What Are Analysts Saying About This Stock?

Key Points

• Analysts are broadly positive: Exagen has a “Moderate Buy” consensus from nine analysts—seven buy ratings, one strong buy, and one sell—with an average 12-month price target of $10.12. Recent targets include $11 from TD Cowen and Canaccord Genuity, and $12 from B. Riley.
• Insider activity was mixed: CEO John Aballi sold 34,294 shares to cover tax withholding on vested equity awards, while major shareholder Jorey Chernett bought 14,000 shares. Insiders own 10.40% of the stock.
• Institutional investors own 75.25% of Exagen: Several firms recently opened or expanded positions, including FourWorld Capital Management, which increased its holding by 61.2%.

Exagen Inc. (NASDAQ:XGN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nine brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $10.12.

A number of brokerages have recently issued reports on XGN. Weiss Ratings reissued a "sell (e+)" rating on shares of Exagen in a research report on Wednesday, November 4th. TD Cowen raised their price target on shares of Exagen from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, October 13th. B. Riley Financial initiated coverage on shares of Exagen in a research note on Friday, September 11th. They issued a "buy" rating and a $12.00 price objective for the company. BTIG Research boosted their price objective on shares of Exagen from $8.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group increased their target price on shares of Exagen from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Monday, October 19th.

Insider Buying and Selling

In other news, CEO John Aballi sold 34,294 shares of Exagen stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $7.87, for a total value of $269,893.78. Following the completion of the sale, the chief executive officer directly owned 805,540 shares in the company, valued at approximately $6,339,599.80. The trade was a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Jorey Chernett purchased 14,000 shares of the business's stock in a transaction that occurred on Monday, October 19th. The stock was bought at an average price of $7.46 per share, with a total value of $104,440.00. Following the completion of the purchase, the insider owned 2,618,540 shares of the company's stock, valued at $19,534,308.40. This trade represents a 0.54% increase in their position. The SEC filing for this purchase provides additional information. 10.40% of the stock is currently owned by insiders.

Institutional Trading of Exagen

A number of institutional investors have recently modified their holdings of XGN. Flputnam Investment Management Co. bought a new position in shares of Exagen in the second quarter worth $1,343,000. FourWorld Capital Management LLC lifted its position in 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 during the period. GSA Capital Partners LLP bought a new stake in Exagen during the second quarter worth about $998,000. Man Group plc bought a new stake in Exagen during the second quarter worth about $778,000. Finally, Sei Investments Co. grew its stake in 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. 75.25% of the stock is currently owned by institutional investors.

Exagen Stock Performance

Shares of NASDAQ XGN opened at $7.10 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.18 and a quick ratio of 3.18. The stock's fifty day moving average price is $7.92 and its two-hundred day moving average price is $5.13. Exagen has a one year low of $2.59 and a one year high of $10.27. The firm has a market cap of $172.03 million, a price-to-earnings ratio of -8.77 and a beta of 2.25.

About Exagen

Exagen Inc is a commercial-stage diagnostic company focused on improving the diagnosis and management of autoimmune and rheumatic diseases. The company develops and commercializes blood tests that help physicians identify autoimmune disease, distinguish among related conditions and monitor disease activity over time.

Its principal product family is AVISE, which includes the AVISE CTD and AVISE Lupus tests, as well as monitoring and specialty tests used in the evaluation of systemic lupus erythematosus and other connective-tissue diseases.

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