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

Exagen Inc. (NASDAQ:XGN) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 23,000 shares, a drop of 29.2% from the February 13th total of 32,500 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 166,100 shares, the short-interest ratio is currently 0.1 days.

Exagen Stock Up 6.3 %

XGN stock opened at $3.56 on Friday. Exagen has a one year low of $1.30 and a one year high of $6.22. The stock has a market capitalization of $62.79 million, a PE ratio of -3.79 and a beta of 1.40. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.05 and a current ratio of 4.05. The company has a fifty day moving average of $3.78 and a 200-day moving average of $3.58.

Analysts Set New Price Targets

Several research analysts have issued reports on XGN shares. Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 price objective on shares of Exagen in a research report on Monday, January 13th. William Blair restated an “outperform” rating on shares of Exagen in a research note on Wednesday. Finally, Canaccord Genuity Group raised their target price on shares of Exagen from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd.

Institutional Trading of Exagen

Several hedge funds and other institutional investors have recently made changes to their positions in XGN. Toronto Dominion Bank acquired a new stake in shares of Exagen in the fourth quarter valued at about $3,655,000. Driehaus Capital Management LLC acquired a new stake in shares of Exagen in the fourth quarter valued at about $1,716,000. Stonepine Capital Management LLC lifted its stake in shares of Exagen by 49.0% in the third quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock valued at $1,651,000 after purchasing an additional 175,701 shares during the period. Marshall Wace LLP acquired a new stake in shares of Exagen in the fourth quarter valued at about $66,000. Finally, Kennedy Capital Management LLC lifted its stake in shares of Exagen by 8.8% in the fourth quarter. Kennedy Capital Management LLC now owns 184,473 shares of the company’s stock valued at $756,000 after purchasing an additional 14,920 shares during the period. Institutional investors and hedge funds own 75.25% of the company’s stock.

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).