FY2024 EPS Estimates for Exagen Inc. Increased by Cantor Fitzgerald (NASDAQ:XGN)

Exagen Inc. (NASDAQ:XGN) – Equities researchers at Cantor Fitzgerald raised their FY2024 earnings per share estimates for shares of Exagen in a research report issued on Tuesday, August 6th. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will post earnings of ($1.11) per share for the year, up from their prior estimate of ($1.18). Cantor Fitzgerald currently has a “Overweight” rating and a $7.00 price target on the stock. The consensus estimate for Exagen’s current full-year earnings is ($1.23) per share.

Exagen Trading Up 22.5 %

NASDAQ XGN traded up $0.62 during trading hours on Thursday, hitting $3.38. 404,020 shares of the company were exchanged, compared to its average volume of 44,140. The stock has a market cap of $58.72 million, a PE ratio of -3.10 and a beta of 1.28. The company has a quick ratio of 4.83, a current ratio of 4.32 and a debt-to-equity ratio of 1.13. The stock has a 50-day moving average price of $2.02 and a 200 day moving average price of $1.85. Exagen has a 52 week low of $1.30 and a 52 week high of $3.46.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.20. Exagen had a negative net margin of 30.56% and a negative return on equity of 78.90%. The business had revenue of $15.06 million for the quarter, compared to analysts’ expectations of $13.20 million. During the same quarter in the previous year, the company earned ($0.28) EPS.

Institutional Trading of Exagen

An institutional investor recently raised its position in Exagen stock. Renaissance Technologies LLC grew its position in Exagen Inc. (NASDAQ:XGN) by 93.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,234 shares of the company’s stock after purchasing an additional 45,476 shares during the quarter. Renaissance Technologies LLC owned about 0.54% of Exagen worth $172,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Insider Buying and Selling

In related news, CEO John Aballi acquired 40,401 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average price of $1.92 per share, for a total transaction of $77,569.92. Following the acquisition, the chief executive officer now directly owns 40,401 shares of the company’s stock, valued at approximately $77,569.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 26.10% of the stock is owned by corporate insiders.

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).