Exagen Inc. (NASDAQ:XGN) Short Interest Update

Exagen Inc. (NASDAQ:XGN) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 23,000 shares, a drop of 29.2% from the February 13th total of 32,500 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 166,100 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Exagen

Hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC bought a new stake in Exagen in the fourth quarter worth about $45,000. Virtu Financial LLC bought a new stake in Exagen in the fourth quarter worth about $46,000. Marshall Wace LLP bought a new stake in Exagen in the fourth quarter worth about $66,000. Northern Trust Corp raised its position in Exagen by 16.7% in the fourth quarter. Northern Trust Corp now owns 18,375 shares of the company’s stock worth $75,000 after acquiring an additional 2,630 shares during the period. Finally, Palumbo Wealth Management LLC raised its position in 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 acquiring an additional 10,340 shares during the period. Institutional investors own 75.25% of the company’s stock.

Exagen Stock Up 1.7 %

XGN opened at $3.62 on Tuesday. 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 company’s 50-day moving average is $3.78 and its 200 day moving average is $3.58. Exagen has a fifty-two week low of $1.30 and a fifty-two week high of $6.22. The firm has a market capitalization of $64.79 million, a P/E ratio of -3.85 and a beta of 1.40.

Analysts Set New Price Targets

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

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).