Exagen Inc. (NASDAQ:XGN) Short Interest Down 90.7% in January

Exagen Inc. (NASDAQ:XGN) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totalling 7,400 shares, a drop of 90.7% from the December 31st total of 79,200 shares. Based on an average daily volume of 140,000 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

XGN has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed 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 boosted their price target on Exagen from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Exagen in a research report on Wednesday, November 13th.

Exagen Trading Up 0.1 %

Exagen stock traded up $0.01 during trading hours on Thursday, reaching $4.08. The company had a trading volume of 28,171 shares, compared to its average volume of 200,872. The firm has a market cap of $71.90 million, a price-to-earnings ratio of -4.35 and a beta of 1.42. Exagen has a 12-month low of $1.30 and a 12-month high of $6.22. The company has a debt-to-equity ratio of 1.54, a current ratio of 4.05 and a quick ratio of 4.05. The company has a 50-day moving average price of $4.22 and a 200 day moving average price of $3.27.

Exagen (NASDAQ:XGN) last released 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 return on equity of 92.58% and a negative net margin of 30.36%. The business had revenue of $12.51 million for the quarter, compared to the consensus estimate of $13.55 million. During the same period in the previous year, the company posted ($0.31) earnings per share. Equities analysts forecast that Exagen will post -0.88 earnings per share for the current year.

Insider Activity at Exagen

In related news, CEO John Aballi bought 24,305 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average price of $2.81 per share, for a total transaction of $68,297.05. Following the completion of the acquisition, the chief executive officer now owns 689,799 shares of the company’s stock, valued at approximately $1,938,335.19. The trade was a 3.65 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $3.30, for a total transaction of $660,000.00. Following the completion of the sale, the insider now owns 2,108,958 shares of the company’s stock, valued at $6,959,561.40. This trade represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.10% of the stock is currently owned by company insiders.

Institutional Trading of Exagen

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Stonepine Capital Management LLC boosted its holdings in shares of Exagen by 49.0% in the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock valued at $1,651,000 after buying an additional 175,701 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Exagen by 93.3% during the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock valued at $172,000 after acquiring an additional 45,476 shares in the last quarter. Palumbo Wealth Management LLC raised its holdings in shares of Exagen by 14.5% in the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock worth $236,000 after buying an additional 9,695 shares during the last quarter. Creative Planning purchased a new stake in Exagen during the 3rd quarter valued at about $110,000. Finally, Verus Capital Partners LLC purchased a new position in shares of Exagen during the 3rd quarter valued at about $39,000. 75.25% of the stock is owned by hedge funds and other institutional investors.

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).