Exagen (NASDAQ:XGN) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Exagen (NASDAQ:XGN) announced its earnings results on Monday. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.02), Yahoo Finance reports. Exagen had a negative return on equity of 74.54% and a negative net margin of 45.08%. The business had revenue of $13.77 million for the quarter, compared to analysts’ expectations of $11.43 million. During the same quarter last year, the business posted ($0.58) earnings per share. Exagen updated its Q1 2024 guidance to EPS and its FY 2024 guidance to EPS.

Exagen Stock Performance

Shares of XGN opened at $1.54 on Wednesday. The stock has a market capitalization of $26.26 million, a P/E ratio of -1.15 and a beta of 1.23. The company has a debt-to-equity ratio of 0.70, a quick ratio of 4.83 and a current ratio of 4.83. Exagen has a 1 year low of $1.33 and a 1 year high of $3.92. The company’s fifty day moving average is $2.00 and its two-hundred day moving average is $1.93.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in XGN. Envestnet Asset Management Inc. lifted its position in shares of Exagen by 7.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 25,731 shares of the company’s stock valued at $207,000 after acquiring an additional 1,839 shares during the period. State Street Corp raised its holdings in Exagen by 3.6% during the first quarter. State Street Corp now owns 132,023 shares of the company’s stock worth $1,060,000 after purchasing an additional 4,579 shares during the last quarter. UBS Group AG boosted its position in Exagen by 3.9% during the third quarter. UBS Group AG now owns 136,813 shares of the company’s stock worth $370,000 after purchasing an additional 5,144 shares in the last quarter. Brinker Capital Investments LLC grew its holdings in Exagen by 30.6% in the first quarter. Brinker Capital Investments LLC now owns 93,218 shares of the company’s stock valued at $749,000 after purchasing an additional 21,825 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Exagen by 50.1% in the first quarter. Dimensional Fund Advisors LP now owns 72,051 shares of the company’s stock valued at $579,000 after buying an additional 24,038 shares in the last quarter. 40.85% of the stock is owned by hedge funds and other institutional investors.

Exagen Company Profile

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. 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).