Man Group plc Takes $778,000 Position in Exagen Inc. $XGN

Key Points

• Man Group plc acquired 167,292 Exagen shares worth approximately $778,000, representing about 0.69% of the company. Institutional investors collectively own 75.25% of Exagen.
• Exagen reported quarterly revenue of $19.94 million and an adjusted loss of $0.13 per share, beating analyst estimates of $17.80 million in revenue and a $0.19 per-share loss.
• Analyst sentiment is mostly positive: Exagen has a consensus “Moderate Buy” rating and an average price target of $9.62, compared with a recent share price of $7.54.

Man Group plc bought a new stake in shares of Exagen Inc. (NASDAQ:XGN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 167,292 shares of the company's stock, valued at approximately $778,000. Man Group plc owned approximately 0.69% of Exagen at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in XGN. Acadian Asset Management LLC acquired a new position in Exagen during the first quarter worth $25,000. Truvestments Capital LLC lifted its stake in Exagen by 109.5% in the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company's stock valued at $38,000 after buying an additional 3,225 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in Exagen in the 4th quarter worth about $80,000. R Squared Ltd boosted its holdings in Exagen by 49.0% in the 1st quarter. R Squared Ltd now owns 27,107 shares of the company's stock worth $81,000 after buying an additional 8,915 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Exagen during the 4th quarter worth approximately $82,000. Hedge funds and other institutional investors own 75.25% of the company's stock.

Exagen Price Performance

XGN stock opened at $7.54 on Friday. Exagen Inc. has a 1 year low of $2.59 and a 1 year high of $12.23. 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 firm has a market capitalization of $182.69 million, a PE ratio of -9.31 and a beta of 2.10. The business has a 50 day simple moving average of $5.73 and a 200-day simple moving average of $4.33.

Exagen (NASDAQ:XGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.19) by $0.06. The firm had revenue of $19.94 million for the quarter, compared to the consensus estimate of $17.80 million. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. Equities research analysts anticipate that Exagen Inc. will post -0.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on XGN. TD Cowen raised their target price on Exagen from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Wall Street Zen raised Exagen from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Roth Capital started coverage on Exagen in a report on Wednesday, June 24th. They issued a "buy" rating and a $8.00 price objective on the stock. BTIG Research lifted their target price on shares of Exagen from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Exagen in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Exagen presently has a consensus rating of "Moderate Buy" and an average price target of $9.62.

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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