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Exagen (NASDAQ:XGN) Rating Lowered to Sector Weight at KeyCorp


Exagen (NASDAQ:XGNGet Rating) was downgraded by investment analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a report issued on Friday, MarketBeat.com reports.

XGN has been the subject of several other research reports. BTIG Research reaffirmed a “buy” rating and issued a $13.00 target price on shares of Exagen in a research report on Friday, May 13th. Canaccord Genuity Group cut their price target on Exagen from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, May 12th.

Exagen Trading Down 23.1 %

XGN stock traded down $1.92 during trading on Friday, reaching $6.38. 1,738 shares of the stock traded hands, compared to its average volume of 30,082. The business’s 50 day moving average price is $6.51 and its 200-day moving average price is $7.04. Exagen has a 52-week low of $4.15 and a 52-week high of $14.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 8.72 and a quick ratio of 8.72. The firm has a market capitalization of $103.74 million, a PE ratio of -3.51 and a beta of 0.87.

Exagen (NASDAQ:XGNGet Rating) last issued its earnings results on Wednesday, May 11th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.01). Exagen had a negative return on equity of 35.51% and a negative net margin of 64.26%. The company had revenue of $10.39 million during the quarter, compared to analysts’ expectations of $10.10 million. During the same period in the previous year, the company earned ($0.48) EPS. As a group, sell-side analysts forecast that Exagen will post -2.04 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of the business. HighTower Trust Services LTA acquired a new stake in Exagen during the second quarter valued at approximately $231,056,000. Wasatch Advisors Inc. raised its stake in Exagen by 0.7% during the fourth quarter. Wasatch Advisors Inc. now owns 1,105,760 shares of the company’s stock valued at $12,860,000 after buying an additional 7,502 shares in the last quarter. RTW Investments LP raised its stake in Exagen by 20.5% during the first quarter. RTW Investments LP now owns 990,143 shares of the company’s stock valued at $7,951,000 after buying an additional 168,729 shares in the last quarter. Stonepine Capital Management LLC grew its holdings in shares of Exagen by 119.8% during the fourth quarter. Stonepine Capital Management LLC now owns 858,567 shares of the company’s stock valued at $9,985,000 after purchasing an additional 467,930 shares during the last quarter. Finally, Perkins Capital Management Inc. grew its holdings in shares of Exagen by 17.9% during the second quarter. Perkins Capital Management Inc. now owns 236,975 shares of the company’s stock valued at $1,360,000 after purchasing an additional 36,000 shares during the last quarter. Institutional investors and hedge funds own 74.02% of the company’s stock.

Exagen Company Profile

(Get Rating)

Exagen Inc develops and commercializes various testing products based on its cell-bound complement activation products technology under the AVISE brand in the United States. It enables rheumatologists 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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