William Blair Reaffirms “Outperform” Rating for Exagen (NASDAQ:XGN)

William Blair reissued their outperform rating on shares of Exagen (NASDAQ:XGN) in a report issued on Wednesday,RTT News reports.

Exagen Trading Up 2.8 %

Shares of NASDAQ XGN opened at $2.98 on Wednesday. The business’s 50 day moving average price is $2.82 and its 200-day moving average price is $2.37. Exagen has a fifty-two week low of $1.30 and a fifty-two week high of $3.71. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.32 and a current ratio of 4.05. The company has a market cap of $52.56 million, a price-to-earnings ratio of -3.18 and a beta of 1.35.

Exagen (NASDAQ:XGN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. The firm had revenue of $12.51 million for the quarter, compared to analysts’ expectations of $13.55 million. Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. During the same period in the prior year, the business posted ($0.31) earnings per share. On average, sell-side analysts expect that Exagen will post -1.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stonepine Capital Management LLC boosted its position in Exagen by 49.0% during the third quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock valued at $1,651,000 after purchasing an additional 175,701 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Exagen by 93.3% during the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock valued at $172,000 after buying an additional 45,476 shares during the last quarter. Palumbo Wealth Management LLC boosted its holdings in shares of Exagen by 14.5% in the 3rd quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after buying an additional 9,695 shares in the last quarter. Creative Planning purchased a new position in shares of Exagen in the 3rd quarter worth approximately $110,000. Finally, Verus Capital Partners LLC bought a new position in shares of Exagen during the 3rd quarter worth approximately $39,000. 75.25% of the stock is currently owned by institutional investors.

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).