Exagen Inc. (NASDAQ:XGN) Short Interest Update

Exagen Inc. (NASDAQ:XGN) was the target of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 885,707 shares, a growth of 51.1% from the January 29th total of 586,232 shares. Based on an average daily trading volume, of 485,761 shares, the short-interest ratio is presently 1.8 days. Currently, 4.5% of the shares of the company are sold short. Currently, 4.5% of the shares of the company are sold short. Based on an average daily trading volume, of 485,761 shares, the short-interest ratio is presently 1.8 days.

Analysts Set New Price Targets

Several research analysts have weighed in on XGN shares. BTIG Research lowered their target price on Exagen from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. B. Riley Financial reiterated a “buy” rating and issued a $8.00 price objective (down from $18.00) on shares of Exagen in a research report on Friday, January 30th. TD Cowen dropped their price objective on shares of Exagen from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Exagen in a research report on Wednesday, January 21st. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Exagen has an average rating of “Moderate Buy” and a consensus target price of $11.43.

Insider Activity

In related news, CEO John Aballi sold 11,430 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $3.61, for a total value of $41,262.30. Following the transaction, the chief executive officer owned 702,997 shares in the company, valued at $2,537,819.17. The trade was a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exagen

Institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in shares of Exagen in the 1st quarter valued at about $25,000. Geode Capital Management LLC raised its holdings in Exagen by 45.6% during the second quarter. Geode Capital Management LLC now owns 146,483 shares of the company’s stock worth $1,023,000 after purchasing an additional 45,884 shares during the last quarter. Calamos Advisors LLC purchased a new stake in Exagen during the second quarter worth $526,000. Citizens Financial Group Inc. RI acquired a new stake in Exagen in the second quarter valued at $472,000. Finally, XTX Topco Ltd purchased a new position in shares of Exagen in the second quarter valued at $133,000. 75.25% of the stock is owned by institutional investors and hedge funds.

Exagen Stock Down 4.7%

Exagen stock opened at $3.62 on Friday. The stock’s 50 day moving average price is $4.64 and its 200 day moving average price is $7.86. Exagen has a 1-year low of $2.67 and a 1-year high of $12.23. The company has a market cap of $82.03 million, a PE ratio of -3.93 and a beta of 1.90. 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 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.