Exagen Inc. (NASDAQ:XGN) Sees Significant Increase in Short Interest

Exagen Inc. (NASDAQ:XGN) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 26,700 shares, an increase of 260.8% from the January 15th total of 7,400 shares. Based on an average daily trading volume, of 170,600 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.3% of the shares of the stock are short sold.

Exagen Stock Performance

Shares of XGN stock opened at $4.32 on Thursday. The firm has a market capitalization of $76.19 million, a price-to-earnings ratio of -4.60 and a beta of 1.41. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.54. The business’s 50-day moving average price is $4.34 and its 200-day moving average price is $3.45. Exagen has a 12 month low of $1.30 and a 12 month high of $6.22.

Exagen (NASDAQ:XGN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.02. Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. The business had revenue of $12.51 million for the quarter, compared to the consensus estimate of $13.55 million. During the same period last year, the company earned ($0.31) EPS. Equities research analysts forecast that Exagen will post -0.88 EPS for the current year.

Analyst Upgrades and Downgrades

XGN has been the subject of several research analyst reports. William Blair reissued an “outperform” rating on shares of Exagen in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $8.00 price objective on shares of Exagen in a research report on Monday, January 13th. Finally, Canaccord Genuity Group raised their target price on shares of Exagen from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, January 3rd.

Insider Buying and Selling at Exagen

In other news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $3.30, for a total transaction of $660,000.00. Following the completion of the transaction, the insider now owns 2,108,958 shares of the company’s stock, valued at approximately $6,959,561.40. The trade was a 8.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 26.10% of the company’s stock.

Hedge Funds Weigh In On Exagen

A number of hedge funds have recently modified their holdings of XGN. Verus Capital Partners LLC bought a new position in Exagen during the 3rd quarter worth $39,000. Corient Private Wealth LLC acquired a new stake in shares of Exagen in the fourth quarter valued at about $45,000. Virtu Financial LLC bought a new position in shares of Exagen during the fourth quarter worth about $46,000. Creative Planning acquired a new position in shares of Exagen in the third quarter worth approximately $110,000. Finally, Palumbo Wealth Management LLC boosted its holdings in Exagen by 14.5% in the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after acquiring an additional 9,695 shares during the last quarter. Institutional investors and hedge funds own 75.25% of the company’s stock.

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).