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

Key Points

• Wall Street Zen upgraded Exagen (NASDAQ:XGN) from a "sell" to a "hold" rating in a report released Saturday.
• Analyst consensus shows 9 Buys and 1 Sell with an average rating of "Moderate Buy" and a consensus price target of $9.63, while the stock trades around $3.03 with a market cap of $72.87M and negative EPS and margins.
• CEO John Aballi sold 15,698 shares at about $3.62 (a 2.23% reduction in his ownership); insiders own 12.6% and institutional investors own 75.25%, with several funds recently increasing their stakes.

Exagen (NASDAQ:XGN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

XGN has been the topic of a number of other research reports. BTIG Research lowered their price objective on Exagen from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Tuesday, March 10th. William Blair reiterated an "outperform" rating on shares of Exagen in a research report on Tuesday, March 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Exagen in a research report on Wednesday, January 21st. UBS Group set a $10.00 price target on Exagen in a research report on Wednesday, March 11th. Finally, TD Cowen lowered their price target on Exagen from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, February 24th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Exagen has an average rating of "Moderate Buy" and a consensus price target of $9.63.

Exagen Trading Down 1.9%

Shares of XGN stock opened at $3.03 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.45 and a current ratio of 3.45. Exagen has a 52-week low of $2.59 and a 52-week high of $12.23. The company has a market capitalization of $72.87 million, a PE ratio of -3.29 and a beta of 1.93. The business's fifty day moving average is $3.24 and its 200 day moving average is $6.49.

Exagen (NASDAQ:XGN - Get Free Report) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting 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 company had revenue of $16.63 million for the quarter, compared to the consensus estimate of $16.46 million. On average, equities research analysts anticipate that Exagen will post -0.88 EPS for the current fiscal year.

Insider Activity

In other news, CEO John Aballi sold 15,698 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $3.62, for a total transaction of $56,826.76. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC bought a new position in shares of Exagen during the fourth quarter valued at about $88,000. XTX Topco Ltd grew its stake in shares of Exagen by 248.5% during the fourth quarter. XTX Topco Ltd now owns 96,994 shares of the company's stock valued at $590,000 after buying an additional 69,161 shares during the last quarter. Occudo Quantitative Strategies LP grew its stake in shares of Exagen by 44.8% during the fourth quarter. Occudo Quantitative Strategies LP now owns 30,214 shares of the company's stock valued at $184,000 after buying an additional 9,346 shares during the last quarter. Man Group plc bought a new position in shares of Exagen during the fourth quarter valued at about $198,000. Finally, Engineers Gate Manager LP grew its stake in shares of Exagen by 52.9% during the fourth quarter. Engineers Gate Manager LP now owns 62,964 shares of the company's stock valued at $383,000 after buying an additional 21,780 shares during the last quarter. 75.25% of the stock is owned by institutional investors.

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.

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