Exagen Inc. (NASDAQ:XGN) Short Interest Update

Exagen Inc. (NASDAQ:XGN) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totaling 1,082,304 shares, an increase of 33.3% from the December 15th total of 812,134 shares. Approximately 5.5% of the shares of the stock are sold short. Based on an average daily volume of 361,313 shares, the days-to-cover ratio is presently 3.0 days. Based on an average daily volume of 361,313 shares, the days-to-cover ratio is presently 3.0 days. Approximately 5.5% of the shares of the stock are sold short.

Exagen Stock Performance

NASDAQ:XGN opened at $4.69 on Friday. The stock’s 50-day moving average is $6.97 and its 200-day moving average is $8.67. Exagen has a 1-year low of $2.67 and a 1-year high of $12.23. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 1.35. The stock has a market cap of $106.28 million, a P/E ratio of -5.10 and a beta of 1.86.

Exagen (NASDAQ:XGN) last posted its earnings results on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.06). Exagen had a negative return on equity of 113.48% and a negative net margin of 29.94%.The business had revenue of $17.24 million for the quarter, compared to analyst estimates of $16.90 million. Equities research analysts anticipate that Exagen will post -0.88 earnings per share for the current year.

Institutional Trading of Exagen

Institutional investors and hedge funds have recently bought and sold shares of the stock. Balyasny Asset Management L.P. bought a new position in Exagen during the 2nd quarter worth $5,017,000. Invesco Ltd. acquired a new stake in shares of Exagen in the third quarter valued at about $7,420,000. Millennium Management LLC acquired a new stake in shares of Exagen in the third quarter valued at about $2,716,000. Kennedy Capital Management LLC raised its position in shares of Exagen by 77.6% during the third quarter. Kennedy Capital Management LLC now owns 551,848 shares of the company’s stock worth $6,065,000 after acquiring an additional 241,127 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Exagen in the second quarter worth approximately $1,540,000. 75.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Exagen in a report on Wednesday, October 8th. B. Riley reiterated a “buy” rating and issued a $18.00 target price (up previously from $15.00) on shares of Exagen in a research report on Wednesday, November 5th. KeyCorp boosted their target price on Exagen from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. BTIG Research raised their price target on shares of Exagen from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Canaccord Genuity Group lifted their price target on shares of Exagen from $11.00 to $15.00 and gave the company a “buy” rating in a report on Monday, October 27th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Exagen currently has an average rating of “Moderate Buy” and an average target price of $14.17.

About Exagen

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.