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

Exagen Inc. (NASDAQ:XGN) was the target of a large growth in short interest in 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. Approximately 5.4% of the shares of the stock are short sold. Based on an average trading volume of 265,492 shares, the days-to-cover ratio is presently 4.0 days. Based on an average trading volume of 265,492 shares, the days-to-cover ratio is presently 4.0 days. Approximately 5.4% of the shares of the stock are short sold.

Exagen Trading Up 0.3%

NASDAQ XGN opened at $3.17 on Wednesday. Exagen has a one year low of $2.91 and a one year high of $12.23. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.45 and a quick ratio of 3.45. The firm has a market cap of $76.24 million, a P/E ratio of -3.45 and a beta of 1.88. The stock’s 50-day moving average is $3.95 and its 200-day moving average is $7.30.

Exagen (NASDAQ:XGN) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). Exagen had a negative return on equity of 105.03% and a negative net margin of 29.97%.The business had revenue of $16.63 million during the quarter, compared to analyst estimates of $16.46 million. Sell-side analysts anticipate that Exagen will post -0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Exagen

Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in shares of Exagen during the first quarter worth $25,000. Truvestments Capital LLC raised its stake in shares of Exagen by 109.5% in the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares during the period. Persistent Asset Partners Ltd acquired a new position in shares of Exagen during the fourth quarter worth about $80,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Exagen during the fourth quarter worth about $82,000. Finally, Jain Global LLC bought a new position in shares of Exagen during the fourth quarter worth about $82,000. Institutional investors own 75.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on XGN shares. BTIG Research decreased their price objective on shares of Exagen from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Exagen in a report on Wednesday, January 21st. B. Riley Financial restated a “buy” rating and issued a $8.00 price objective (down from $18.00) on shares of Exagen in a research report on Friday, January 30th. William Blair reaffirmed an “outperform” rating on shares of Exagen in a report on Tuesday, March 10th. Finally, TD Cowen decreased their price objective 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.57.

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.