Short Interest in Exagen Inc. (NASDAQ:XGN) Declines By 30.1%

Exagen Inc. (NASDAQ:XGNGet Rating) was the recipient of a large decline in short interest in December. As of December 30th, there was short interest totalling 72,600 shares, a decline of 30.1% from the December 15th total of 103,900 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 95,100 shares, the short-interest ratio is presently 0.8 days.

Insiders Place Their Bets

In related news, CEO John Aballi purchased 90,000 shares of the stock in a transaction dated Thursday, December 8th. The shares were acquired at an average cost of $2.68 per share, for a total transaction of $241,200.00. Following the acquisition, the chief executive officer now directly owns 440,000 shares in the company, valued at approximately $1,179,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 38.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Intrust Bank NA acquired a new position in Exagen during the 2nd quarter worth $57,000. First Bank & Trust lifted its position in Exagen by 47.1% during the 2nd quarter. First Bank & Trust now owns 23,176 shares of the company’s stock worth $133,000 after acquiring an additional 7,423 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Exagen by 7.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 25,731 shares of the company’s stock worth $207,000 after acquiring an additional 1,839 shares during the last quarter. Advisors Capital Management LLC lifted its position in Exagen by 66.2% during the 3rd quarter. Advisors Capital Management LLC now owns 67,923 shares of the company’s stock worth $143,000 after acquiring an additional 27,050 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Exagen by 50.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 72,051 shares of the company’s stock worth $579,000 after acquiring an additional 24,038 shares during the last quarter. Institutional investors and hedge funds own 53.90% of the company’s stock.

Exagen Stock Down 0.4 %

XGN stock opened at $2.84 on Thursday. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.50. Exagen has a 1 year low of $2.10 and a 1 year high of $10.64. The company has a fifty day simple moving average of $2.63 and a 200 day simple moving average of $3.95. The firm has a market cap of $46.18 million, a PE ratio of -1.25 and a beta of 1.20.

Exagen (NASDAQ:XGNGet Rating) last released its quarterly earnings data on Monday, November 14th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.29. Exagen had a negative net margin of 82.81% and a negative return on equity of 55.31%. The business had revenue of $14.73 million during the quarter, compared to analyst estimates of $9.13 million. Sell-side analysts anticipate that Exagen will post -2.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on XGN shares. BTIG Research lowered their price target on shares of Exagen from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, November 17th. Canaccord Genuity Group lowered their price target on shares of Exagen from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, November 15th. Canaccord Genuity Group lowered their price target on shares of Exagen from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, November 15th. Finally, Cowen reduced their price objective on shares of Exagen to $7.00 in a research note on Thursday, November 17th.

Exagen Company Profile

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Exagen Inc develops and commercializes various testing products based on its cell-bound complement activation products technology under the AVISE brand in the United States. It enables rheumatologists 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).

Further Reading

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