FourWorld Capital Management LLC Boosts Stake in Exagen Inc. $XGN

FourWorld Capital Management LLC lifted its position in Exagen Inc. (NASDAQ:XGN) by 61.2% in the 1st quarter, Holdings Channel reports. The fund owned 439,950 shares of the company’s stock after acquiring an additional 166,950 shares during the quarter. Exagen accounts for 0.7% of FourWorld Capital Management LLC’s holdings, making the stock its 15th biggest holding. FourWorld Capital Management LLC’s holdings in Exagen were worth $1,320,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC grew its stake in Exagen by 109.5% in the fourth quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Exagen during the 1st quarter valued at $25,000. Larson Financial Group LLC bought a new stake in shares of Exagen during the 3rd quarter valued at $105,000. Persistent Asset Partners Ltd purchased a new stake in shares of Exagen in the 4th quarter worth about $80,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Exagen in the 4th quarter worth about $82,000. 75.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on XGN shares. BTIG Research decreased their price target on shares of Exagen from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Wall Street Zen upgraded shares of Exagen from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. Canaccord Genuity Group lowered their target price on shares of Exagen from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, April 20th. Finally, Roth Capital initiated coverage on shares of Exagen in a report on Wednesday, June 24th. They set a “buy” rating and a $8.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.11.

Exagen Price Performance

XGN opened at $4.68 on Monday. The company’s 50-day simple moving average is $4.50 and its two-hundred day simple moving average is $3.89. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.47 and a current ratio of 3.47. The stock has a market capitalization of $113.07 million, a P/E ratio of -5.26 and a beta of 2.02. Exagen Inc. has a 52-week low of $2.59 and a 52-week high of $12.23.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.07. Exagen had a negative net margin of 29.49% and a negative return on equity of 94.37%. The firm had revenue of $17.31 million during the quarter, compared to analyst estimates of $16.41 million. As a group, analysts predict that Exagen Inc. will post -0.71 EPS for the current year.

Exagen Company 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.