Exagen Inc. (NASDAQ:XGN) Short Interest Down 90.7% in January

Exagen Inc. (NASDAQ:XGN) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 7,400 shares, a decrease of 90.7% from the December 31st total of 79,200 shares. Based on an average daily trading volume, of 140,000 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the shares of the company are sold short.

Exagen Price Performance

XGN stock opened at $4.10 on Friday. The company has a fifty day moving average price of $4.22 and a 200-day moving average price of $3.27. The company has a market capitalization of $72.32 million, a P/E ratio of -4.36 and a beta of 1.42. Exagen has a 52-week low of $1.30 and a 52-week high of $6.22. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.05 and a current ratio of 4.05.

Exagen (NASDAQ:XGN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.02. The firm had revenue of $12.51 million during the quarter, compared to the consensus estimate of $13.55 million. Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. During the same quarter last year, the firm earned ($0.31) earnings per share. As a group, equities analysts expect that Exagen will post -0.88 EPS for the current year.

Insider Activity at Exagen

In other news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $3.30, for a total transaction of $660,000.00. Following the completion of the sale, the insider now owns 2,108,958 shares of the company’s stock, valued at approximately $6,959,561.40. This represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Aballi purchased 24,305 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were purchased at an average cost of $2.81 per share, with a total value of $68,297.05. Following the acquisition, the chief executive officer now owns 689,799 shares in the company, valued at $1,938,335.19. This trade represents a 3.65 % increase in their position. The disclosure for this purchase can be found here. 26.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exagen

Large investors have recently modified their holdings of the company. Verus Capital Partners LLC acquired a new stake in shares of Exagen during the third quarter worth $39,000. Creative Planning acquired a new stake in shares of Exagen during the third quarter worth $110,000. Palumbo Wealth Management LLC increased its position in shares of Exagen by 14.5% during the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock worth $236,000 after buying an additional 9,695 shares during the period. Renaissance Technologies LLC grew its holdings in Exagen by 93.3% in the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock worth $172,000 after purchasing an additional 45,476 shares during the period. Finally, Stonepine Capital Management LLC grew its holdings in Exagen by 49.0% in the third quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock worth $1,651,000 after purchasing an additional 175,701 shares during the period. 75.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

XGN has been the subject of several research reports. William Blair reissued an “outperform” rating on shares of Exagen in a research note on Wednesday, November 13th. Canaccord Genuity Group increased their price objective on shares of Exagen from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 price objective on shares of Exagen in a research note 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).