Exagen Inc. (NASDAQ:XGN) Short Interest Down 23.5% in March

Exagen Inc. (NASDAQ:XGN) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 17,600 shares, a decrease of 23.5% from the February 28th total of 23,000 shares. Based on an average daily volume of 146,200 shares, the short-interest ratio is presently 0.1 days. Approximately 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Exagen

Several institutional investors and hedge funds have recently bought and sold shares of XGN. Palumbo Wealth Management LLC raised its stake 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. Corient Private Wealth LLC purchased a new stake in Exagen in the 4th quarter worth approximately $45,000. Virtu Financial LLC bought a new stake in Exagen during the 4th quarter worth approximately $46,000. Geode Capital Management LLC lifted its holdings in Exagen by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 98,057 shares of the company’s stock valued at $402,000 after purchasing an additional 10,442 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its position in shares of Exagen by 8.8% in the fourth quarter. Kennedy Capital Management LLC now owns 184,473 shares of the company’s stock worth $756,000 after purchasing an additional 14,920 shares during the period. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Exagen Trading Down 6.5 %

Shares of Exagen stock opened at $3.59 on Tuesday. Exagen has a 1-year low of $1.30 and a 1-year high of $6.22. The company’s fifty day simple moving average is $3.89 and its 200-day simple moving average is $3.64. 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 stock has a market capitalization of $64.25 million, a PE ratio of -3.82 and a beta of 1.40.

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).