Perkins Capital Management Inc. Sells 211,783 Shares of Exagen Inc. $XGN

Perkins Capital Management Inc. cut its stake in shares of Exagen Inc. (NASDAQ:XGN) by 91.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 20,075 shares of the company’s stock after selling 211,783 shares during the quarter. Perkins Capital Management Inc.’s holdings in Exagen were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in XGN. Balyasny Asset Management L.P. bought a new position in shares of Exagen during the second quarter worth approximately $5,017,000. Kennedy Capital Management LLC boosted its stake in Exagen by 5.3% in the 2nd quarter. Kennedy Capital Management LLC now owns 310,721 shares of the company’s stock valued at $2,169,000 after purchasing an additional 15,568 shares during the period. Russell Investments Group Ltd. acquired a new position in Exagen in the 2nd quarter valued at $1,540,000. FourWorld Capital Management LLC acquired a new position in Exagen in the 2nd quarter valued at $1,456,000. Finally, Manatuck Hill Partners LLC bought a new position in Exagen during the 2nd quarter worth $1,222,000. Institutional investors own 75.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on XGN. Weiss Ratings reissued a “sell (d-)” rating on shares of Exagen in a research report on Wednesday. B. Riley reaffirmed a “buy” rating and set a $18.00 price target (up from $15.00) on shares of Exagen in a research report on Wednesday, November 5th. Canaccord Genuity Group lifted their price objective on shares of Exagen from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. BTIG Research increased their target price on shares of Exagen from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, KeyCorp raised their target price on shares of Exagen from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Exagen has a consensus rating of “Moderate Buy” and a consensus price target of $14.17.

Exagen Stock Down 5.9%

XGN stock opened at $4.60 on Monday. Exagen Inc. has a 52 week low of $2.67 and a 52 week high of $12.23. The business has a 50-day simple moving average of $6.51 and a 200 day simple moving average of $8.62. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 1.35. The company has a market cap of $104.24 million, a PE ratio of -5.00 and a beta of 1.86.

Exagen (NASDAQ:XGN) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). Exagen had a negative return on equity of 113.48% and a negative net margin of 29.94%.The firm had revenue of $17.24 million for the quarter, compared to analyst estimates of $16.90 million. Sell-side analysts anticipate that Exagen Inc. will post -0.88 EPS for the current fiscal year.

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.