Exagen Inc. (NASDAQ:XGN) Short Interest Update

Exagen Inc. (NASDAQ:XGN) saw a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 32,500 shares, a growth of 21.7% from the January 31st total of 26,700 shares. Based on an average trading volume of 176,700 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.4% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Canaccord Genuity Group boosted their price target on Exagen from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price target on shares of Exagen in a research note on Monday, January 13th. Finally, William Blair restated an “outperform” rating on shares of Exagen in a research report on Wednesday, November 13th.

Institutional Trading of Exagen

A number of large investors have recently made changes to their positions in XGN. Creative Planning bought a new position in shares of Exagen during the third quarter valued at approximately $110,000. Verus Capital Partners LLC purchased a new stake in shares of Exagen in the 3rd quarter worth $39,000. Stonepine Capital Management LLC grew its position in shares of Exagen by 49.0% during the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock worth $1,651,000 after buying an additional 175,701 shares in the last quarter. Palumbo Wealth Management LLC increased its stake in shares of Exagen by 13.5% during the fourth quarter. Palumbo Wealth Management LLC now owns 86,704 shares of the company’s stock valued at $355,000 after buying an additional 10,340 shares during the period. Finally, Corient Private Wealth LLC bought a new stake in shares of Exagen in the fourth quarter valued at about $45,000. 75.25% of the stock is currently owned by institutional investors.

Exagen Trading Down 1.9 %

Shares of XGN stock opened at $3.13 on Friday. The stock has a market capitalization of $55.20 million, a price-to-earnings ratio of -3.33 and a beta of 1.40. The stock’s 50-day moving average price is $3.86 and its 200-day moving average price is $3.56. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.54. Exagen has a 12-month low of $1.30 and a 12-month high of $6.22.

About Exagen

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).