Exagen Inc. (NASDAQ:XGN) Short Interest Update

Exagen Inc. (NASDAQ:XGN) was the target of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 1,071,934 shares, a growth of 21.0% from the February 12th total of 885,707 shares. Based on an average daily volume of 265,492 shares, the days-to-cover ratio is currently 4.0 days. Approximately 5.4% of the shares of the company are sold short. Approximately 5.4% of the shares of the company are sold short. Based on an average daily volume of 265,492 shares, the days-to-cover ratio is currently 4.0 days.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. William Blair restated an “outperform” rating on shares of Exagen in a research note on Tuesday, March 10th. Wall Street Zen lowered shares of Exagen from a “hold” rating to a “sell” rating in a research note on Saturday. BTIG Research cut their price objective on shares of Exagen from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. B. Riley Financial restated a “buy” rating and set a $8.00 price objective (down from $18.00) on shares of Exagen in a report on Friday, January 30th. Finally, TD Cowen decreased their target price on Exagen from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.57.

Exagen Stock Performance

NASDAQ:XGN opened at $3.07 on Monday. The company has a market cap of $73.83 million, a price-to-earnings ratio of -3.34 and a beta of 1.88. Exagen has a fifty-two week low of $2.91 and a fifty-two week high of $12.23. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.45 and a current ratio of 3.45. The stock has a fifty day moving average price of $4.06 and a 200-day moving average price of $7.39.

Exagen (NASDAQ:XGN) last issued its quarterly earnings results on Tuesday, March 10th. The company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). Exagen had a negative return on equity of 105.03% and a negative net margin of 29.97%.The company had revenue of $16.63 million for the quarter, compared to analysts’ expectations of $16.46 million. As a group, equities analysts anticipate that Exagen will post -0.88 EPS for the current fiscal year.

Insider Transactions at Exagen

In other Exagen news, CEO John Aballi sold 15,698 shares of Exagen stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $3.62, for a total transaction of $56,826.76. Following the completion of the transaction, the chief executive officer directly owned 687,299 shares of the company’s stock, valued at $2,488,022.38. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.60% of the stock is owned by corporate insiders.

Institutional Trading of Exagen

Institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of Exagen in the 1st quarter valued at $25,000. Geode Capital Management LLC raised its holdings in shares of Exagen by 45.6% during the 2nd quarter. Geode Capital Management LLC now owns 146,483 shares of the company’s stock worth $1,023,000 after buying an additional 45,884 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of Exagen during the 2nd quarter worth $472,000. XTX Topco Ltd bought a new stake in shares of Exagen during the 2nd quarter worth $133,000. Finally, Russell Investments Group Ltd. acquired a new stake in Exagen in the second quarter valued at about $1,540,000. Institutional investors own 75.25% of the company’s stock.

Exagen Company Profile

Exagen Inc is a molecular diagnostics company focused on improving the detection and management of autoimmune diseases. Headquartered in the United States, the company develops, manufactures and markets laboratory tests designed to help clinicians address diagnostic challenges associated with complex connective tissue disorders.

The company’s flagship product portfolio, marketed under the Avise® brand, includes multi-analyte assays such as the Avise® Connective Tissue Disease (CTD) panel, Avise® Lupus panel and Avise® Sjögren’s panel.