Toronto Dominion Bank Makes New $3.66 Million Investment in Exagen Inc. (NASDAQ:XGN)

Toronto Dominion Bank acquired a new stake in Exagen Inc. (NASDAQ:XGN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 891,366 shares of the company's stock, valued at approximately $3,655,000. Toronto Dominion Bank owned approximately 5.05% of Exagen at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Driehaus Capital Management LLC acquired a new position in shares of Exagen in the fourth quarter worth $1,716,000. Kennedy Capital Management LLC boosted its holdings in Exagen by 8.8% in the fourth quarter. Kennedy Capital Management LLC now owns 184,473 shares of the company's stock valued at $756,000 after purchasing an additional 14,920 shares during the period. Geode Capital Management LLC grew its stake in Exagen by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 98,057 shares of the company's stock worth $402,000 after purchasing an additional 10,442 shares in the last quarter. Palumbo Wealth Management LLC increased its holdings in Exagen by 13.5% during the 4th quarter. Palumbo Wealth Management LLC now owns 86,704 shares of the company's stock worth $355,000 after purchasing an additional 10,340 shares during the period. Finally, Northern Trust Corp raised its position in Exagen by 16.7% in the 4th quarter. Northern Trust Corp now owns 18,375 shares of the company's stock valued at $75,000 after purchasing an additional 2,630 shares in the last quarter. Hedge funds and other institutional investors own 75.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XGN. Cantor Fitzgerald lowered their price objective on Exagen from $8.00 to $7.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. UBS Group reiterated an "overweight" rating on shares of Exagen in a research note on Thursday, May 15th. BTIG Research reissued a "buy" rating on shares of Exagen in a report on Wednesday, May 7th. William Blair reaffirmed an "outperform" rating on shares of Exagen in a report on Wednesday, March 12th. Finally, Canaccord Genuity Group upped their price objective on Exagen from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Exagen has an average rating of "Buy" and a consensus price target of $7.50.

Exagen Stock Down 3.6%

Shares of NASDAQ XGN traded down $0.25 during mid-day trading on Wednesday, reaching $6.57. The company had a trading volume of 13,420 shares, compared to its average volume of 115,006. The firm has a 50 day simple moving average of $5.19 and a two-hundred day simple moving average of $4.41. Exagen Inc. has a 52-week low of $1.71 and a 52-week high of $7.20. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.54. The stock has a market cap of $139.83 million, a P/E ratio of -6.98 and a beta of 1.50.

Exagen (NASDAQ:XGN - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The business had revenue of $15.50 million during the quarter, compared to the consensus estimate of $14.55 million. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. During the same period in the previous year, the business earned ($0.19) EPS. Sell-side analysts predict that Exagen Inc. will post -0.88 earnings per share for the current year.

Exagen 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).