Palumbo Wealth Management LLC Trims Position in Exagen Inc. $XGN

Key Points

• Palumbo Wealth Management LLC reduced its position in Exagen Inc. by 33.5% during Q2, now owning approximately 0.31% of the company, valued at $461,000.
• Exagen has received a series of upgrades from analysts, with a consensus target price of $12.00 and a majority rating of "Buy".
• Exagen reported a revenue of $17.20 million for the last quarter, exceeding analysts' estimates, but maintains a negative net margin of 28.85%.

Palumbo Wealth Management LLC decreased its position in shares of Exagen Inc. (NASDAQ:XGN - Free Report) by 33.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,012 shares of the company's stock after selling 33,193 shares during the quarter. Palumbo Wealth Management LLC owned approximately 0.31% of Exagen worth $461,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of Exagen by 16.7% in the fourth quarter. Northern Trust Corp now owns 18,375 shares of the company's stock valued at $75,000 after acquiring an additional 2,630 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Exagen during the first quarter worth about $25,000. Huntleigh Advisors Inc. raised its stake in Exagen by 16.8% during the 1st quarter. Huntleigh Advisors Inc. now owns 83,108 shares of the company's stock valued at $298,000 after purchasing an additional 11,939 shares during the period. Finally, Toronto Dominion Bank purchased a new position in Exagen in the 4th quarter worth approximately $3,655,000. Institutional investors own 75.25% of the company's stock.

Analyst Upgrades and Downgrades

XGN has been the subject of a number of research analyst reports. Craig Hallum began coverage on shares of Exagen in a report on Wednesday, July 23rd. They set a "buy" rating and a $12.00 price objective for the company. KeyCorp upgraded shares of Exagen from a "sector weight" rating to an "overweight" rating and set a $12.00 target price for the company in a research report on Wednesday, July 30th. Canaccord Genuity Group raised their target price on shares of Exagen from $8.00 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. B. Riley assumed coverage on shares of Exagen in a report on Thursday, September 11th. They issued a "buy" rating and a $15.00 price target on the stock. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 price objective on shares of Exagen in a report on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, Exagen has an average rating of "Buy" and a consensus target price of $12.00.

Exagen Stock Performance

Shares of NASDAQ:XGN opened at $10.78 on Thursday. The firm has a fifty day simple moving average of $9.14 and a two-hundred day simple moving average of $6.91. The company has a quick ratio of 4.95, a current ratio of 4.95 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $237.16 million, a P/E ratio of -12.11 and a beta of 1.60. Exagen Inc. has a 52 week low of $2.38 and a 52 week high of $10.83.

Exagen (NASDAQ:XGN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.18) EPS for the quarter, meeting analysts' consensus estimates of ($0.18). Exagen had a negative net margin of 28.85% and a negative return on equity of 130.38%. The firm had revenue of $17.20 million during the quarter, compared to the consensus estimate of $16.25 million. Exagen has set its FY 2025 guidance at EPS. On average, analysts expect that Exagen Inc. will post -0.88 earnings per share for the current fiscal year.

Exagen Company Profile

Exagen Inc develops and commercializes various testing products under the AVISE brand in the United States. The company enables healthcare providers to care for patients through the diagnosis, prognosis, and monitoring of autoimmune and autoimmune-related diseases, including systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA).

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