Exagen’s (NYSE:XGN) quiet period will end on Tuesday, October 29th. Exagen had issued 3,600,000 shares in its initial public offering on September 19th. The total size of the offering was $50,400,000 based on an initial share price of $14.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Several equities research analysts have recently issued reports on the stock. Cowen assumed coverage on shares of Exagen in a research note on Monday, October 14th. They set an “outperform” rating and a $17.00 target price on the stock. William Blair assumed coverage on shares of Exagen in a research note on Monday, October 14th. They set an “outperform” rating on the stock. Finally, Cantor Fitzgerald assumed coverage on shares of Exagen in a research note on Monday, October 14th. They set an “overweight” rating and a $18.00 target price on the stock.
XGN stock opened at $14.69 on Thursday. Exagen has a 52-week low of $11.54 and a 52-week high of $19.50.
In other news, major shareholder Bio-Exagen L.P. H.I.G. bought 859,897 shares of the stock in a transaction dated Thursday, September 19th. The shares were acquired at an average cost of $17.24 per share, with a total value of $14,824,624.28.
An institutional investor recently bought a new position in Exagen stock. Perkins Capital Management Inc. purchased a new stake in Exagen Inc. (NYSE:XGN) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 87,450 shares of the company’s stock, valued at approximately $1,355,000. Perkins Capital Management Inc. owned approximately 0.76% of Exagen at the end of the most recent quarter.
Exagen Company Profile
Exagen Inc operates as a commercial-stage diagnostics company, develops and markets products for the diagnosis, prognosis, and monitoring of patients affected by autoimmune rheumatic diseases (ARDs). Its lead product includes Avise SLE+CT, a proprietary diagnostic test that provides an enhanced solution for patients with a range of ARDs, such as systemic lupus erythematosus (SLE), rheumatoid arthritis (RA), Sjögren's syndrome, and scleroderma, as well as other disorders, including fibromyalgia.
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