Exagen Inc. (NASDAQ:XGN – Get Free Report) was the target of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 15,800 shares, a drop of 41.5% from the July 31st total of 27,000 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average trading volume of 51,200 shares, the short-interest ratio is currently 0.3 days.
Analyst Ratings Changes
Separately, Cantor Fitzgerald boosted their target price on Exagen from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th.
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Exagen Stock Down 2.6 %
Exagen (NASDAQ:XGN – Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.20. The firm had revenue of $15.06 million for the quarter, compared to the consensus estimate of $13.20 million. Exagen had a negative return on equity of 78.90% and a negative net margin of 30.56%. During the same period in the prior year, the company posted ($0.28) earnings per share. On average, analysts anticipate that Exagen will post -1.02 EPS for the current fiscal year.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Exagen stock. Renaissance Technologies LLC raised its holdings in shares of Exagen Inc. (NASDAQ:XGN – Free Report) by 93.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,234 shares of the company’s stock after acquiring an additional 45,476 shares during the quarter. Renaissance Technologies LLC owned approximately 0.54% of Exagen worth $172,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 75.25% of the stock is owned by institutional investors and hedge funds.
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).
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