Exagen Inc. (NASDAQ:XGN) Short Interest Up 33.3% in December

Exagen Inc. (NASDAQ:XGN) was the target of a large increase in short interest in December. As of December 31st, there was short interest totaling 1,082,304 shares, an increase of 33.3% from the December 15th total of 812,134 shares. Based on an average daily volume of 361,313 shares, the days-to-cover ratio is presently 3.0 days. Currently, 5.5% of the company’s stock are short sold. Currently, 5.5% of the company’s stock are short sold. Based on an average daily volume of 361,313 shares, the days-to-cover ratio is presently 3.0 days.

Analyst Ratings Changes

XGN has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating and issued a $18.00 price target (up previously from $15.00) on shares of Exagen in a report on Wednesday, November 5th. KeyCorp upped their target price on shares of Exagen from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. BTIG Research lifted their price target on Exagen from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Exagen in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group upped their price objective on Exagen from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.17.

Hedge Funds Weigh In On Exagen

Several hedge funds and other institutional investors have recently made changes to their positions in XGN. Bridgeway Capital Management LLC increased its holdings in Exagen by 10.3% during the second quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company’s stock worth $194,000 after buying an additional 2,600 shares during the last quarter. Calamos Advisors LLC grew its position in shares of Exagen by 3.5% in the 3rd quarter. Calamos Advisors LLC now owns 78,090 shares of the company’s stock valued at $858,000 after acquiring an additional 2,677 shares during the period. Huntleigh Advisors Inc. increased its stake in shares of Exagen by 5.7% during the 2nd quarter. Huntleigh Advisors Inc. now owns 87,861 shares of the company’s stock worth $613,000 after purchasing an additional 4,753 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Exagen in the 1st quarter valued at about $25,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Exagen by 3.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 229,115 shares of the company’s stock valued at $2,518,000 after purchasing an additional 8,499 shares during the period. 75.25% of the stock is owned by institutional investors.

Exagen Trading Down 2.9%

Exagen stock opened at $4.69 on Monday. The company has a market cap of $106.28 million, a price-to-earnings ratio of -5.10 and a beta of 1.86. The firm has a 50-day moving average of $6.97 and a 200-day moving average of $8.69. The company has a debt-to-equity ratio of 1.35, a current ratio of 4.08 and a quick ratio of 4.08. Exagen has a one year low of $2.67 and a one year high of $12.23.

Exagen (NASDAQ:XGN) last released its earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.06). Exagen had a negative return on equity of 113.48% and a negative net margin of 29.94%.The company had revenue of $17.24 million for the quarter, compared to the consensus estimate of $16.90 million. On average, equities analysts expect that Exagen will post -0.88 earnings per share for the current fiscal year.

About Exagen

Exagen Inc is a molecular diagnostics company focused on improving the detection and management of autoimmune diseases. Headquartered in the United States, the company develops, manufactures and markets laboratory tests designed to help clinicians address diagnostic challenges associated with complex connective tissue disorders.

The company’s flagship product portfolio, marketed under the Avise® brand, includes multi-analyte assays such as the Avise® Connective Tissue Disease (CTD) panel, Avise® Lupus panel and Avise® Sjögren’s panel.