Flputnam Investment Management Co. acquired a new stake in Exagen Inc. (NASDAQ:XGN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 288,810 shares of the company's stock, valued at approximately $1,343,000. Flputnam Investment Management Co. owned about 1.20% of Exagen at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in XGN. Truvestments Capital LLC raised its position in 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 last quarter. Acadian Asset Management LLC acquired a new stake in shares of Exagen in the first quarter valued at approximately $25,000. Larson Financial Group LLC purchased a new position in shares of Exagen during the 3rd quarter worth approximately $105,000. Persistent Asset Partners Ltd purchased a new position in shares of Exagen during the 4th quarter worth approximately $80,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Exagen during the 4th quarter worth approximately $82,000. 75.25% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on XGN shares. Wall Street Zen raised Exagen from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Roth Capital initiated coverage on Exagen in a research report on Wednesday, June 24th. They set a "buy" rating and a $8.00 price target for the company. TD Cowen boosted their price target on Exagen from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Canaccord Genuity Group reduced their price objective on Exagen from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Finally, B. Riley Financial reaffirmed a "buy" rating and set a $12.00 price objective (up from $8.00) on shares of Exagen in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $9.62.
Check Out Our Latest Report on XGN
Exagen Stock Performance
Shares of XGN opened at $6.70 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.18 and a current ratio of 3.18. The company has a market capitalization of $162.34 million, a price-to-earnings ratio of -8.27 and a beta of 2.05. The company's 50 day simple moving average is $4.95 and its 200 day simple moving average is $3.97. Exagen Inc. has a 1 year low of $2.59 and a 1 year high of $12.23.
Exagen (NASDAQ:XGN - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. The firm had revenue of $19.94 million during the quarter, compared to analysts' expectations of $17.80 million. On average, sell-side analysts predict that Exagen Inc. will post -0.67 EPS for the current year.
Exagen Company Profile
(
Free Report)
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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