The share price of Exagen Inc. (NASDAQ:XGN) rose to $3.40 per share on Wednesday from $2.55. While Exagen Inc. has overperformed by 33.33%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, XGN fell by -72.69%, with highs and lows ranging from $12.65 to $2.10, whereas the simple moving average fell by -38.90% in the last 200 days.
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On August 05, 2022, KeyBanc Capital Markets Downgraded Exagen Inc. (NASDAQ: XGN) to Sector Weight. Canaccord Genuity also rated XGN shares as ‘Buy’, setting a target price of $25 on the company’s shares in an initiating report dated April 15, 2021. KeyBanc Capital Markets Initiated an Overweight rating on November 10, 2020, and assigned a price target of $32. BTIG Research initiated its ‘Buy’ rating for XGN, as published in its report on October 08, 2020. Cantor Fitzgerald’s report from June 02, 2020 suggests a price prediction of $20 for XGN shares, giving the stock a ‘Overweight’ rating. William Blair also rated the stock as ‘Outperform’.
Analysis of Exagen Inc. (XGN)
Further, the quarter-over-quarter increase in sales is 40.60%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Exagen Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -39.10% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 9.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and XGN is recording an average volume of 53.07K. Furthermore, long-term investors anticipate a median target price of $8.75, showing growth from the present price of $3.40, which can serve as yet another indication of whether XGN is worth investing in or should be passed over.
How Do You Analyze Exagen Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 21.28%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 76.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in XGN shares?
The recent increase in stakes in XGN appears to be a result of several institutional investors and hedge funds increasing their positions. Cowen & Co. LLC’s position in XGN has decreased by -1.92% in the first quarter. The company now owns 1,329,383 shares of the stock, with a value of $3.26 million, following the sale of -26,031 additional shares during the last quarter. Stonepine Capital Management LLC made another increased to its shares in XGN during the first quarter, upping its stake by 0.40%. During the last quarter, the company picked up 4,986 additional shares for a total stake of worth $3.1 million, bringing number of shares owned by the company to 1,265,373.
During the first quarter, RTW Investments LP added a 23,660 position in XGN. Wasatch Advisors, Inc. sold an additional 1093.0 shares in the last quarter, decreasing its holdings by -0.11%, now holding 1.01 million shares worth $2.48 million. At the end of the first quarter, Silvercrest Asset Management Grou increased its XGN holdings by 2.32% and now holds 0.51 million XGN shares valued at $1.24 million with the added 11520.0 shares during the period. XGN shares are owned by institutional investors to the tune of 76.40% at present.