Exagen Inc. (NASDAQ:XGN) Short Interest Update

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Canaccord Genuity Group lifted their price target on Exagen from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. William Blair reiterated an “outperform” rating on shares of Exagen in a research report on Wednesday, March 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 price target on shares of Exagen in a report on Monday, January 13th.

Exagen Price Performance

Shares of Exagen stock opened at $3.56 on Monday. The firm has a market capitalization of $63.72 million, a PE ratio of -3.79 and a beta of 1.40. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.54. Exagen has a 12 month low of $1.30 and a 12 month high of $6.22. The business’s 50-day moving average price is $3.78 and its 200-day moving average price is $3.58.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in XGN. Corient Private Wealth LLC purchased a new stake in shares of Exagen in the 4th quarter valued at $45,000. Virtu Financial LLC bought a new stake in Exagen in the fourth quarter worth $46,000. Marshall Wace LLP purchased a new stake in Exagen during the fourth quarter valued at about $66,000. Northern Trust Corp grew its stake in shares of Exagen by 16.7% during the fourth 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 during the last quarter. Finally, Palumbo Wealth Management LLC increased its holdings 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 worth $355,000 after buying an additional 10,340 shares during the period. 75.25% of the stock is owned by hedge funds and other institutional investors.

About Exagen

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).