Exagen (NYSE:XGN) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Exagen (NYSE:XGN) from a buy rating to a hold rating in a research note published on Saturday morning, Zacks.com reports.

According to Zacks, “Exagen Inc. is engaged in transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases. It developed and commercialises testing products under AVISE brand. Exagen Inc. is based in Vista, California. “

Separately, Cantor Fitzgerald initiated coverage on shares of Exagen in a report on Monday, June 1st. They issued an overweight rating and a $20.00 price objective for the company.

NYSE XGN traded down $0.30 during trading on Friday, reaching $12.45. The company’s stock had a trading volume of 20,820 shares, compared to its average volume of 50,582. Exagen has a 12 month low of $10.29 and a 12 month high of $29.86. The firm has a 50 day moving average price of $11.92 and a 200 day moving average price of $15.66.

Exagen (NYSE:XGN) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.77) by $0.50. The business had revenue of $8.95 million during the quarter, compared to the consensus estimate of $4.82 million.

Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its holdings in shares of Exagen by 1,292.9% during the 1st quarter. Wells Fargo & Company MN now owns 3,747 shares of the company’s stock worth $60,000 after acquiring an additional 3,478 shares during the period. UBS Group AG bought a new stake in shares of Exagen during the 4th quarter worth approximately $104,000. JPMorgan Chase & Co. lifted its holdings in shares of Exagen by 674.5% during the 1st quarter. JPMorgan Chase & Co. now owns 8,357 shares of the company’s stock worth $133,000 after acquiring an additional 7,278 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Exagen by 6.0% during the 1st quarter. Squarepoint Ops LLC now owns 16,173 shares of the company’s stock worth $258,000 after acquiring an additional 909 shares during the period. Finally, HarbourVest Partners LLC bought a new stake in shares of Exagen during the 1st quarter worth approximately $414,000.

Exagen Company Profile

Exagen Inc operates as a commercial-stage diagnostics company, develops and markets products for the diagnosis, prognosis, and monitoring of patients affected by autoimmune rheumatic diseases (ARDs). Its lead product includes Avise SLE+CT, a proprietary diagnostic test that provides an enhanced solution for patients with a range of ARDs, such as systemic lupus erythematosus (SLE), rheumatoid arthritis (RA), Sjögren's syndrome, and scleroderma, as well as other disorders, including fibromyalgia.

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