Exagen's Momentum Meets Execution Risks: Why I Choose To HOLD For Now

2025-09-13 08:29:57 ET

Exagen Inc. ( XGN ) stock is having an excellent year, now trading at its 52-week highs, levels last attained during the beginning of January 2022. XGN stock had a rough and very slow patch from October 2022 to July 2024, and now it looks like it's back on track, considering a +140% jump in 2025 and a +225% gain over the past 52 weeks. The question of what could be driving this surge is anchored on improving fundamentals, as evidenced by an impressive Q2 which saw record quarterly revenue attainment, increased volumes, and a higher average selling price [ASP]. I question the sustainability of this growth as it might get sticky due to risks associated with accrual recovery timing, PAD4 state lab approval timing, and reimbursement risk. I would choose to watch the stock a bit more, hence my HOLD rating on XGN stock....

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