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

Exagen Inc. (NASDAQ:XGNGet Free Report) was the recipient of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 7,400 shares, a drop of 90.7% from the December 31st total of 79,200 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 140,000 shares, the days-to-cover ratio is currently 0.1 days.

Insider Activity

In related news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $3.30, for a total transaction of $660,000.00. Following the transaction, the insider now directly owns 2,108,958 shares of the company’s stock, valued at $6,959,561.40. This trade represents a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Aballi purchased 24,305 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $2.81 per share, for a total transaction of $68,297.05. Following the completion of the transaction, the chief executive officer now directly owns 689,799 shares of the company’s stock, valued at $1,938,335.19. This represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 26.10% of the company’s stock.

Institutional Trading of Exagen

Several hedge funds have recently added to or reduced their stakes in the stock. Verus Capital Partners LLC purchased a new position in shares of Exagen in the third quarter worth about $39,000. Creative Planning purchased a new position in shares of Exagen in the third quarter worth about $110,000. Renaissance Technologies LLC increased its stake in shares of 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 in the last quarter. Palumbo Wealth Management LLC increased its stake in shares of Exagen by 14.5% in the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock worth $236,000 after purchasing an additional 9,695 shares in the last quarter. Finally, Stonepine Capital Management LLC increased its stake in shares of 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 in the last quarter. Institutional investors own 75.25% of the company’s stock.

Exagen Stock Performance

Shares of XGN stock opened at $4.10 on Friday. The firm has a market cap of $72.32 million, a price-to-earnings ratio of -4.36 and a beta of 1.42. 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 has a 52 week low of $1.30 and a 52 week high of $6.22. The firm’s 50-day simple moving average is $4.22 and its two-hundred day simple moving average is $3.27.

Exagen (NASDAQ:XGNGet Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.02. The business had revenue of $12.51 million for the quarter, compared to analyst estimates 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 in the previous year, the firm posted ($0.31) earnings per share. As a group, equities analysts forecast that Exagen will post -0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of Exagen in a research report on Wednesday, November 13th. 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.

Read Our Latest Stock Analysis on Exagen

Exagen Company Profile

(Get Free Report)

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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