Exagen Inc. (NASDAQ:XGN) Short Interest Down 23.5% in March

Exagen Inc. (NASDAQ:XGN) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 17,600 shares, a decrease of 23.5% from the February 28th total of 23,000 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 146,200 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Exagen in a research report on Wednesday, March 12th. 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 report on Friday, January 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 target price on shares of Exagen in a report on Monday, January 13th.

Exagen Trading Up 9.5 %

Shares of Exagen stock opened at $3.93 on Wednesday. Exagen has a twelve month low of $1.30 and a twelve month high of $6.22. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 1.54. The business has a 50-day moving average price of $3.89 and a 200-day moving average price of $3.65. The firm has a market cap of $70.34 million, a price-to-earnings ratio of -4.18 and a beta of 1.40.

Hedge Funds Weigh In On Exagen

Institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank purchased a new stake in shares of Exagen during the 4th quarter worth approximately $3,655,000. Driehaus Capital Management LLC purchased a new position in shares of Exagen in the fourth quarter valued at $1,716,000. Kennedy Capital Management LLC increased its position in Exagen by 8.8% in the fourth quarter. Kennedy Capital Management LLC now owns 184,473 shares of the company’s stock worth $756,000 after purchasing an additional 14,920 shares during the last quarter. Geode Capital Management LLC raised its stake in Exagen by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 98,057 shares of the company’s stock valued at $402,000 after purchasing an additional 10,442 shares in the last quarter. Finally, Palumbo Wealth Management LLC lifted its position in 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 purchasing an additional 10,340 shares during the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.

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).