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

Exagen Inc. (NASDAQ:XGNGet Free Report) was the target of a large drop in short interest in the month of 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. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 140,000 shares, the days-to-cover ratio is presently 0.1 days.

Exagen Price Performance

Shares of NASDAQ XGN opened at $4.00 on Friday. The stock has a market capitalization of $70.55 million, a price-to-earnings ratio of -4.26 and a beta of 1.42. The business has a 50-day moving average of $4.23 and a 200-day moving average of $3.27. The company has a debt-to-equity ratio of 1.54, a current ratio of 4.05 and a quick ratio of 4.05. Exagen has a fifty-two week low of $1.30 and a fifty-two week high of $6.22.

Exagen (NASDAQ:XGNGet Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating 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 company had revenue of $12.51 million during the quarter, compared to analysts’ expectations of $13.55 million. During the same quarter last year, the company earned ($0.31) EPS. As a group, sell-side analysts predict that Exagen will post -0.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on XGN shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $8.00 target price on shares of Exagen in a report on Monday, January 13th. William Blair reiterated an “outperform” rating on shares of Exagen in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group increased their target price on Exagen from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, January 3rd.

Check Out Our Latest Stock Analysis on XGN

Insider Buying and Selling

In other Exagen news, CEO John Aballi acquired 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, with a total value of $68,297.05. Following the purchase, the chief executive officer now owns 689,799 shares of the company’s stock, valued at $1,938,335.19. This represents a 3.65 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $3.30, for a total value of $660,000.00. Following the sale, the insider now directly owns 2,108,958 shares in the company, valued at $6,959,561.40. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. 26.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Exagen

A number of hedge funds and other institutional investors have recently bought and sold shares of XGN. Stonepine Capital Management LLC lifted its position in Exagen by 49.0% during the third quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock worth $1,651,000 after acquiring an additional 175,701 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Exagen by 93.3% in the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock valued at $172,000 after buying an additional 45,476 shares in the last quarter. Palumbo Wealth Management LLC raised its position in shares of Exagen by 13.5% in the fourth 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. Creative Planning acquired a new stake in shares of Exagen in the third quarter valued at approximately $110,000. Finally, Verus Capital Partners LLC acquired a new stake in shares of Exagen in the third quarter valued at approximately $39,000. Institutional investors own 75.25% of the company’s stock.

About Exagen

(Get Free Report)

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).

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