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

Exagen Inc. (NASDAQ:XGN) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 23,000 shares, a drop of 29.2% from the February 13th total of 32,500 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average trading volume of 166,100 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Several research firms recently commented on XGN. Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 target price on shares of Exagen in a research note on Monday, January 13th. Canaccord Genuity Group upped their target price on shares of Exagen from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Exagen in a report on Wednesday.

Exagen Trading Up 6.3 %

NASDAQ XGN opened at $3.56 on Friday. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 1.54. Exagen has a 52 week low of $1.30 and a 52 week high of $6.22. The stock has a market capitalization of $62.79 million, a PE ratio of -3.79 and a beta of 1.40. The firm has a 50 day moving average of $3.78 and a two-hundred day moving average of $3.58.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in XGN. Corient Private Wealth LLC acquired a new position in Exagen during the 4th quarter worth approximately $45,000. Virtu Financial LLC acquired a new position in shares of Exagen in the 4th quarter valued at $46,000. Marshall Wace LLP acquired a new position in shares of Exagen in the 4th quarter valued at $66,000. Northern Trust Corp boosted its holdings in shares of Exagen by 16.7% in the 4th quarter. Northern Trust Corp now owns 18,375 shares of the company’s stock valued at $75,000 after buying an additional 2,630 shares in the last quarter. Finally, Palumbo Wealth Management LLC boosted its holdings in shares of Exagen by 13.5% in the 4th quarter. Palumbo Wealth Management LLC now owns 86,704 shares of the company’s stock valued at $355,000 after buying an additional 10,340 shares in 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).