Exagen Inc. (NASDAQ:XGN) Short Interest Down 67.3% in January

Exagen Inc. (NASDAQ:XGN) saw a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 586,232 shares, a decline of 67.3% from the January 15th total of 1,793,289 shares. Based on an average trading volume of 667,447 shares, the days-to-cover ratio is currently 0.9 days. Approximately 3.0% of the company’s stock are sold short. Approximately 3.0% of the company’s stock are sold short. Based on an average trading volume of 667,447 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on XGN shares. BTIG Research lifted their price objective on shares of Exagen from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Canaccord Genuity Group raised their price target on Exagen from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, October 27th. B. Riley Financial reaffirmed a “buy” rating and set a $8.00 price objective (down from $18.00) on shares of Exagen in a research report on Friday, January 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Exagen in a report on Wednesday, January 21st. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Exagen Stock Down 1.8%

Exagen stock opened at $3.24 on Friday. The company has a market capitalization of $73.42 million, a P/E ratio of -3.52 and a beta of 1.90. The company has a debt-to-equity ratio of 1.35, a quick ratio of 4.08 and a current ratio of 4.08. Exagen has a fifty-two week low of $2.67 and a fifty-two week high of $12.23. The stock has a 50-day simple moving average of $5.38 and a 200-day simple moving average of $8.27.

Institutional Investors Weigh In On Exagen

Several hedge funds have recently made changes to their positions in XGN. Balyasny Asset Management L.P. acquired a new position in Exagen in the 2nd quarter valued at about $5,017,000. Invesco Ltd. acquired a new position in Exagen in the 3rd quarter valued at $7,420,000. Nano Cap New Millennium Growth Fund L P purchased a new position in Exagen during the 4th quarter worth $1,520,000. Millennium Management LLC acquired a new stake in shares of Exagen in the 3rd quarter worth $2,716,000. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Exagen by 77.6% in the third quarter. Kennedy Capital Management LLC now owns 551,848 shares of the company’s stock valued at $6,065,000 after acquiring an additional 241,127 shares in the last quarter. Institutional investors and hedge funds own 75.25% of the company’s stock.

Exagen Company Profile

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.