Exagen Inc. (NASDAQ:XGN) Short Interest Up 260.8% in January

Exagen Inc. (NASDAQ:XGN - Get Free Report) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 26,700 shares, a growth of 260.8% from the January 15th total of 7,400 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 170,600 shares, the short-interest ratio is presently 0.2 days.

Exagen Price Performance

Shares of XGN traded down $0.04 during mid-day trading on Friday, hitting $4.23. 55,485 shares of the company traded hands, compared to its average volume of 199,604. The stock has a market capitalization of $74.62 million, a price-to-earnings ratio of -4.50 and a beta of 1.41. Exagen has a one year low of $1.30 and a one year high of $6.22. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.54. The business has a 50-day moving average of $4.33 and a 200 day moving average of $3.49.

Analyst Ratings Changes

A number of research firms recently issued reports on XGN. William Blair restated an "outperform" rating on shares of Exagen in a research report on Wednesday, November 13th. Canaccord Genuity Group upped their price objective on shares of Exagen from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $8.00 price target on shares of Exagen in a report on Monday, January 13th.

Insider Transactions at Exagen

In other news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $3.30, for a total transaction of $660,000.00. Following the completion of the sale, the insider now owns 2,108,958 shares in the company, valued at approximately $6,959,561.40. The trade was a 8.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 26.10% of the company's stock.

Institutional Investors Weigh In On Exagen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning acquired a new stake in shares of Exagen during the third quarter worth $110,000. Palumbo Wealth Management LLC raised its position in shares of Exagen by 13.5% during the fourth quarter. Palumbo Wealth Management LLC now owns 86,704 shares of the company's stock worth $355,000 after acquiring an additional 10,340 shares during the last quarter. Verus Capital Partners LLC acquired a new position in Exagen in the third quarter valued at $39,000. Northern Trust Corp lifted its position in shares of Exagen by 16.7% during the 4th quarter. Northern Trust Corp now owns 18,375 shares of the company's stock valued at $75,000 after acquiring an additional 2,630 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Exagen in the fourth quarter valued at approximately $66,000. 75.25% of the stock is currently owned by institutional investors and hedge funds.

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).