Exagen Inc. (NASDAQ:XGN) Sees Large Growth in Short Interest

Exagen Inc. (NASDAQ:XGN) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 52,200 shares, a growth of 122.1% from the October 15th total of 23,500 shares. Based on an average daily trading volume, of 36,800 shares, the short-interest ratio is presently 1.4 days. Currently, 0.6% of the company’s stock are sold short.

Exagen Stock Down 6.1 %

Shares of NASDAQ:XGN opened at $2.79 on Wednesday. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 1.13. The stock has a fifty day simple moving average of $2.84 and a two-hundred day simple moving average of $2.36. Exagen has a 12-month low of $1.30 and a 12-month high of $3.71. The stock has a market capitalization of $48.51 million, a price-to-earnings ratio of -2.73 and a beta of 1.35.

Hedge Funds Weigh In On Exagen

Large investors have recently modified their holdings of the stock. Verus Capital Partners LLC purchased a new position in Exagen in the 3rd quarter worth approximately $39,000. Creative Planning bought a new stake in shares of Exagen in the 3rd quarter worth $110,000. Renaissance Technologies LLC raised its stake in shares of Exagen by 93.3% in the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock worth $172,000 after purchasing an additional 45,476 shares during the last quarter. Finally, Palumbo Wealth Management LLC lifted its holdings in shares of Exagen by 14.5% during the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after purchasing an additional 9,695 shares in the last quarter. Hedge funds and other institutional investors 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).