Exagen Inc. (NASDAQ:XGN) Sees Significant Decrease in Short Interest

Exagen Inc. (NASDAQ:XGN) saw a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 586,232 shares, a decrease 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. Currently, 3.0% of the shares of the stock are short sold. Currently, 3.0% of the shares of the stock are short sold. Based on an average trading volume of 667,447 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Ratings Changes

A number of analysts recently commented on the stock. B. Riley Financial reiterated a “buy” rating and issued a $8.00 target price (down from $18.00) on shares of Exagen in a report on Friday, January 30th. Canaccord Genuity Group increased their price objective on Exagen from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Exagen in a report on Wednesday, January 21st. Finally, BTIG Research upped their target price on Exagen from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, November 10th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Institutional Investors Weigh In On Exagen

Several hedge funds have recently modified their holdings of XGN. Acadian Asset Management LLC acquired a new position in Exagen in the first quarter valued at about $25,000. Huntleigh Advisors Inc. grew its holdings in shares of Exagen by 5.7% during the second 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. Geode Capital Management LLC increased its stake in shares of Exagen by 45.6% in the second quarter. Geode Capital Management LLC now owns 146,483 shares of the company’s stock valued at $1,023,000 after buying an additional 45,884 shares in the last quarter. Calamos Advisors LLC acquired a new position in Exagen during the 2nd quarter worth about $526,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in Exagen in the 2nd quarter valued at about $472,000. 75.25% of the stock is owned by institutional investors.

Exagen Stock Performance

Shares of NASDAQ XGN opened at $3.30 on Thursday. The business’s 50-day simple moving average is $5.47 and its 200-day simple moving average is $8.30. Exagen has a 52 week low of $2.67 and a 52 week high of $12.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 4.08 and a current ratio of 4.08. The firm has a market cap of $74.78 million, a price-to-earnings ratio of -3.59 and a beta of 1.90.

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.