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

Toronto Dominion Bank purchased a new position in Exagen Inc. (NASDAQ:XGN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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 reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC acquired a new stake in shares of Exagen in the fourth quarter worth $45,000. Virtu Financial LLC bought a new position in shares of Exagen during the fourth quarter valued at $46,000. Marshall Wace LLP bought a new position in shares of Exagen during the fourth quarter valued at $66,000. Northern Trust Corp lifted its holdings in shares of Exagen by 16.7% during 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 during the period. Finally, Palumbo Wealth Management LLC raised its holdings in shares of Exagen by 13.5% in the fourth quarter. Palumbo Wealth Management LLC now owns 86,704 shares of the company's stock valued at $355,000 after buying an additional 10,340 shares during the last quarter. Institutional investors own 75.25% of the company's stock.

Analyst Ratings Changes

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

Exagen Trading Up 4.1%

Exagen stock traded up $0.30 during mid-day trading on Tuesday, hitting $7.44. 223,291 shares of the stock were exchanged, compared to its average volume of 118,621. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 1.54. Exagen Inc. has a 12 month low of $1.71 and a 12 month high of $7.55. The firm's fifty day simple moving average is $5.43 and its two-hundred day simple moving average is $4.53. The stock has a market capitalization of $158.37 million, a price-to-earnings ratio of -7.94 and a beta of 1.50.

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

About Exagen

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).