Man Group plc Takes $778,000 Position in Exagen Inc. $XGN

Man Group plc acquired a new stake in Exagen Inc. (NASDAQ:XGN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 167,292 shares of the company’s stock, valued at approximately $778,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of XGN. Acadian Asset Management LLC purchased a new stake in Exagen in the 1st quarter valued at about $25,000. Geode Capital Management LLC boosted its stake in Exagen by 45.6% during the second quarter. Geode Capital Management LLC now owns 146,483 shares of the company’s stock worth $1,023,000 after buying an additional 45,884 shares during the period. XTX Topco Ltd purchased a new position in Exagen during the second quarter worth about $133,000. Russell Investments Group Ltd. acquired a new stake in shares of Exagen during the second quarter valued at about $1,540,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Exagen during the second quarter valued at about $138,000. 75.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. BTIG Research upped their price objective on shares of Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Exagen in a report on Friday, August 7th. B. Riley Financial restated a “buy” rating and set a $12.00 price target (up from $8.00) on shares of Exagen in a research note on Wednesday, August 5th. Roth Capital assumed coverage on Exagen in a research report on Wednesday, June 24th. They set a “buy” rating and a $8.00 price target for the company. Finally, TD Cowen lifted their price objective on Exagen from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.62.

Exagen Trading Up 0.4%

Shares of XGN stock opened at $7.54 on Friday. Exagen Inc. has a fifty-two week low of $2.59 and a fifty-two week high of $12.23. The company has a 50 day moving average price of $5.73 and a 200 day moving average price of $4.33. The stock has a market capitalization of $182.69 million, a P/E ratio of -9.31 and a beta of 2.10. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.18 and a current ratio of 3.18.

Exagen (NASDAQ:XGN) last released its earnings results on Tuesday, August 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. The company had revenue of $19.94 million for the quarter, compared to analyst estimates of $17.80 million. Equities research analysts predict that Exagen Inc. will post -0.71 EPS for the current fiscal year.

About Exagen

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.