Exagen (NASDAQ:XGN) Receives “Outperform” Rating from William Blair

Exagen (NASDAQ:XGN)‘s stock had its “outperform” rating reiterated by stock analysts at William Blair in a research note issued to investors on Wednesday,RTT News reports.

Exagen Stock Performance

XGN stock opened at $2.90 on Wednesday. Exagen has a one year low of $1.30 and a one year high of $3.71. The firm has a market cap of $50.43 million, a price-to-earnings ratio of -2.93 and a beta of 1.35. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.32 and a current ratio of 4.32. The firm has a 50-day simple moving average of $2.83 and a two-hundred day simple moving average of $2.37.

Exagen (NASDAQ:XGN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. The company had revenue of $12.51 million during 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 84.26%. During the same quarter in the prior year, the company posted ($0.31) earnings per share. On average, equities analysts forecast that Exagen will post -1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Verus Capital Partners LLC acquired a new stake in Exagen in the 3rd quarter worth approximately $39,000. Creative Planning purchased a new position in shares of Exagen in the third quarter worth $110,000. Palumbo Wealth Management LLC lifted its stake in shares of Exagen by 14.5% during the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock worth $236,000 after buying an additional 9,695 shares during the period. Renaissance Technologies LLC grew its holdings 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. Finally, Stonepine Capital Management LLC increased its position in shares of Exagen by 49.0% in the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock valued at $1,651,000 after acquiring an additional 175,701 shares during the period. 75.25% of the stock is currently owned by hedge funds and other 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).