Short Interest in Exagen Inc. (NASDAQ:XGN) Decreases By 29.2%

Exagen Inc. (NASDAQ:XGN - Get Free Report) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 23,000 shares, a decline of 29.2% from the February 13th total of 32,500 shares. Based on an average daily trading volume, of 166,100 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.3% of the company's stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp grew its stake in Exagen by 16.7% in the fourth quarter. Northern Trust Corp now owns 18,375 shares of the company's stock valued at $75,000 after purchasing an additional 2,630 shares in the last quarter. Palumbo Wealth Management LLC grew its stake in Exagen by 13.5% in the fourth quarter. Palumbo Wealth Management LLC now owns 86,704 shares of the company's stock valued at $355,000 after purchasing an additional 10,340 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Exagen by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 98,057 shares of the company's stock worth $402,000 after acquiring an additional 10,442 shares in the last quarter. Corient Private Wealth LLC bought a new stake in shares of Exagen during the 4th quarter worth about $45,000. Finally, Virtu Financial LLC bought a new stake in shares of Exagen during the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 75.25% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $8.00 price target on shares of Exagen in a report on Monday, January 13th. William Blair reiterated an "outperform" rating on shares of Exagen in a report on Wednesday, March 12th. Finally, Canaccord Genuity Group lifted their price target on Exagen from $5.00 to $7.00 and gave the company a "buy" rating in a report on Friday, January 3rd.

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Exagen Stock Up 3.6 %

NASDAQ XGN traded up $0.13 on Wednesday, reaching $3.75. The stock had a trading volume of 43,946 shares, compared to its average volume of 80,939. The business has a 50 day moving average price of $3.79 and a 200 day moving average price of $3.59. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.54. Exagen has a 1 year low of $1.30 and a 1 year high of $6.22. The company has a market capitalization of $67.12 million, a price-to-earnings ratio of -3.99 and a beta of 1.40.

Exagen Company Profile

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).