Exagen Inc. (NASDAQ:XGN) Sees Large Increase in Short Interest

Exagen Inc. (NASDAQ:XGN) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 52,200 shares, an increase of 122.1% from the October 15th total of 23,500 shares. Based on an average trading volume of 36,800 shares, the short-interest ratio is presently 1.4 days. Currently, 0.6% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, William Blair reissued an “outperform” rating on shares of Exagen in a report on Wednesday.

Exagen Stock Performance

Shares of NASDAQ XGN opened at $2.75 on Thursday. Exagen has a 1 year low of $1.30 and a 1 year high of $3.71. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.32 and a current ratio of 4.32. The company’s fifty day moving average price is $2.84 and its 200 day moving average price is $2.37. The company has a market capitalization of $47.82 million, a PE ratio of -2.93 and a beta of 1.35.

Exagen (NASDAQ:XGN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. Exagen had a negative return on equity of 84.26% and a negative net margin of 30.36%. The firm had revenue of $12.51 million for the quarter, compared to analysts’ expectations of $13.55 million. During the same period last year, the firm earned ($0.31) EPS. On average, research analysts predict that Exagen will post -1.02 earnings per share for the current year.

Institutional Trading of Exagen

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in shares of Exagen by 93.3% in the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock valued at $172,000 after purchasing an additional 45,476 shares during the period. Creative Planning purchased a new position in Exagen in the 3rd quarter valued at about $110,000. Palumbo Wealth Management LLC lifted its stake in Exagen by 14.5% in the 3rd quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after buying an additional 9,695 shares in the last quarter. Finally, Verus Capital Partners LLC acquired a new stake in Exagen in the 3rd quarter worth about $39,000. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

About Exagen

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).