Perceptive Advisors LLC Makes New $345,000 Investment in Exagen Inc. $XGN

Perceptive Advisors LLC acquired a new position in shares of Exagen Inc. (NASDAQ:XGN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 114,893 shares of the company’s stock, valued at approximately $345,000. Perceptive Advisors LLC owned 0.48% of Exagen at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new position in shares of Exagen in the 1st quarter valued at $25,000. Truvestments Capital LLC lifted its position in Exagen by 109.5% during the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares during the period. Persistent Asset Partners Ltd purchased a new stake in Exagen during the 4th quarter valued at about $80,000. R Squared Ltd grew its stake in Exagen by 49.0% during the 1st quarter. R Squared Ltd now owns 27,107 shares of the company’s stock valued at $81,000 after purchasing an additional 8,915 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Exagen in the fourth quarter valued at about $82,000. 75.25% of the stock is owned by hedge funds and other institutional investors.

Exagen Price Performance

Shares of XGN opened at $4.53 on Friday. The business’s 50-day moving average is $4.56 and its two-hundred day moving average is $3.85. The company has a market capitalization of $109.44 million, a P/E ratio of -5.09 and a beta of 2.02. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.47 and a current ratio of 3.47. Exagen Inc. has a fifty-two week low of $2.59 and a fifty-two week high of $12.23.

Exagen (NASDAQ:XGN) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.07. Exagen had a negative return on equity of 94.37% and a negative net margin of 29.49%.The business had revenue of $17.31 million during the quarter, compared to analysts’ expectations of $16.41 million. Research analysts predict that Exagen Inc. will post -0.71 earnings per share for the current year.

Wall Street Analyst Weigh In

XGN has been the subject of several research analyst reports. Wall Street Zen upgraded Exagen from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. BTIG Research dropped their target price on Exagen from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Canaccord Genuity Group cut their price target on shares of Exagen from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Weiss Ratings lowered shares of Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Finally, Roth Capital initiated coverage on shares of Exagen in a research report on Wednesday, June 24th. They set a “buy” rating and a $8.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Exagen Profile

Exagen Inc is a molecular diagnostics company focused on improving the detection and management of autoimmune diseases. Headquartered in the United States, the company develops, manufactures and markets laboratory tests designed to help clinicians address diagnostic challenges associated with complex connective tissue disorders.

The company’s flagship product portfolio, marketed under the Avise® brand, includes multi-analyte assays such as the Avise® Connective Tissue Disease (CTD) panel, Avise® Lupus panel and Avise® Sjögren’s panel.