FourWorld Capital Management LLC Makes New $1.46 Million Investment in Exagen Inc. $XGN

FourWorld Capital Management LLC purchased a new stake in Exagen Inc. (NASDAQ:XGN) in the second quarter, Holdings Channel reports. The firm purchased 208,527 shares of the company’s stock, valued at approximately $1,456,000. Exagen accounts for approximately 1.0% of FourWorld Capital Management LLC’s portfolio, making the stock its 12th biggest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bridgeway Capital Management LLC lifted its position in Exagen by 10.3% during the second quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company’s stock worth $194,000 after buying an additional 2,600 shares in the last quarter. Huntleigh Advisors Inc. increased its stake in shares of Exagen by 5.7% in the 2nd quarter. Huntleigh Advisors Inc. now owns 87,861 shares of the company’s stock worth $613,000 after acquiring an additional 4,753 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Exagen during the 1st quarter valued at about $25,000. Kennedy Capital Management LLC boosted its position in shares of Exagen by 5.3% during the 2nd quarter. Kennedy Capital Management LLC now owns 310,721 shares of the company’s stock valued at $2,169,000 after acquiring an additional 15,568 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Exagen in the second quarter valued at about $133,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

Insider Activity at Exagen

In related news, CEO John Aballi sold 31,787 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $11.82, for a total transaction of $375,722.34. Following the sale, the chief executive officer directly owned 714,427 shares in the company, valued at approximately $8,444,527.14. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.60% of the company’s stock.

Exagen Trading Down 1.4%

NASDAQ XGN opened at $7.11 on Friday. The firm has a market cap of $161.11 million, a price-to-earnings ratio of -7.73 and a beta of 1.80. Exagen Inc. has a one year low of $2.67 and a one year high of $12.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 4.08 and a current ratio of 4.08. The firm has a 50 day simple moving average of $9.62 and a 200-day simple moving average of $8.86.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on XGN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exagen in a research note on Wednesday, October 8th. Canaccord Genuity Group raised their price target on shares of Exagen from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, October 27th. BTIG Research upped their price objective on Exagen from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, November 10th. B. Riley reiterated a “buy” rating and issued a $18.00 price objective (up from $15.00) on shares of Exagen in a research report on Wednesday, November 5th. Finally, KeyCorp lifted their target price on Exagen from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.17.

Exagen Company Profile

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).