Squarepoint Ops LLC Sells 179,832 Shares of Exagen Inc. $XGN

Key Points

• Squarepoint Ops LLC cut its Exagen stake by 62.3% in the second quarter, selling 179,832 shares and retaining 108,993 shares worth approximately $507,000. Institutional investors and hedge funds collectively own 75.25% of XGN.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $9.62. Recent targets range from $8 to $12, despite one “Sell” rating.
• Exagen exceeded quarterly expectations, reporting a loss of $0.13 per share versus the $0.19 consensus loss and revenue of $19.94 million versus estimates of $17.80 million. XGN opened at $8.41, compared with a 52-week range of $2.59 to $12.23.

Squarepoint Ops LLC lessened its position in shares of Exagen Inc. (NASDAQ:XGN - Free Report) by 62.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 108,993 shares of the company's stock after selling 179,832 shares during the quarter. Squarepoint Ops LLC owned approximately 0.45% of Exagen worth $507,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of XGN. Flputnam Investment Management Co. bought a new stake in shares of Exagen during the 2nd quarter valued at about $1,343,000. GSA Capital Partners LLP bought a new stake in shares of Exagen in the 2nd quarter valued at $998,000. Man Group plc acquired a new position in shares of Exagen during the 2nd quarter valued at $778,000. FourWorld Capital Management LLC boosted its stake 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 acquiring an additional 166,950 shares in the last quarter. Finally, BlackRock Inc. acquired a new stake in Exagen in the second quarter worth $663,000. 75.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on XGN. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Exagen in a research report on Friday, August 7th. BTIG Research boosted their price objective on Exagen from $8.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Roth Capital assumed coverage on shares of Exagen in a research report on Wednesday, June 24th. They issued a "buy" rating and a $8.00 price target for the company. B. Riley Financial started coverage on shares of Exagen in a report on Friday, September 11th. They set a "buy" rating and a $12.00 price objective on the stock. Finally, TD Cowen lifted their price objective on shares of Exagen from $8.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.62.

Exagen Price Performance

XGN stock opened at $8.41 on Monday. The firm has a market capitalization of $203.77 million, a PE ratio of -10.38 and a beta of 2.10. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 1.96. Exagen Inc. has a twelve month low of $2.59 and a twelve month high of $12.23. The stock's 50 day moving average is $6.37 and its 200-day moving average is $4.64.

Exagen (NASDAQ:XGN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. The business had revenue of $19.94 million during 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%. Sell-side analysts expect that Exagen Inc. will post -0.69 EPS for the current fiscal year.

Exagen Profile

Exagen Inc NASDAQ: XGN is a commercial-stage diagnostics company focused on autoimmune diseases. The company develops and provides blood-based testing services intended to help healthcare professionals diagnose, differentiate and manage systemic autoimmune conditions, particularly lupus and related rheumatic diseases.

Exagen's flagship testing platform is AVISE, a panel-based diagnostic approach that combines multiple autoantibody and biomarker measurements. Its offerings include AVISE CTD, which supports the evaluation of connective tissue diseases, and AVISE Lupus, which is designed to help distinguish systemic lupus erythematosus from other autoimmune conditions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.