Exagen Inc. (NASDAQ:XGN) Short Interest Update

Exagen Inc. (NASDAQ:XGN - Get Free Report) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 78,100 shares, a growth of 36.5% from the November 30th total of 57,200 shares. Based on an average daily volume of 82,200 shares, the short-interest ratio is currently 1.0 days. Currently, 0.9% of the company's shares are sold short.

Insider Buying and Selling

In other news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $3.30, for a total transaction of $660,000.00. Following the transaction, the insider now owns 2,108,958 shares in the company, valued at approximately $6,959,561.40. This represents a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Aballi bought 24,305 shares of Exagen stock in a transaction dated Thursday, November 14th. The stock was purchased at an average price of $2.81 per share, with a total value of $68,297.05. Following the completion of the purchase, the chief executive officer now owns 689,799 shares in the company, valued at $1,938,335.19. This trade represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 26.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exagen

Several large investors have recently bought and sold shares of XGN. Renaissance Technologies LLC increased its stake in Exagen by 93.3% in the 2nd quarter. Renaissance Technologies LLC now owns 94,234 shares of the company's stock valued at $172,000 after buying an additional 45,476 shares during the last quarter. Creative Planning purchased a new stake in shares of Exagen during the third quarter valued at approximately $110,000. Verus Capital Partners LLC bought a new stake in Exagen during the third quarter worth $39,000. Palumbo Wealth Management LLC lifted its holdings in Exagen by 14.5% during the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company's stock worth $236,000 after acquiring an additional 9,695 shares during the period. Finally, Stonepine Capital Management LLC boosted its position in Exagen by 49.0% in the third quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company's stock worth $1,651,000 after purchasing an additional 175,701 shares during the last quarter. 75.25% of the stock is currently owned by institutional investors.

Exagen Stock Down 6.5 %

Shares of NASDAQ XGN traded down $0.33 during mid-day trading on Friday, reaching $4.71. 107,927 shares of the company's stock traded hands, compared to its average volume of 56,183. The company has a debt-to-equity ratio of 1.54, a current ratio of 4.05 and a quick ratio of 4.05. The business has a 50-day simple moving average of $3.84 and a 200 day simple moving average of $2.98. The stock has a market cap of $83.07 million, a P/E ratio of -5.01 and a beta of 1.49. Exagen has a 1-year low of $1.30 and a 1-year high of $6.22.

Exagen (NASDAQ:XGN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.02. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. The firm had revenue of $12.51 million during the quarter, compared to analyst estimates of $13.55 million. During the same period in the previous year, the company posted ($0.31) EPS. On average, analysts expect that Exagen will post -0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, William Blair reaffirmed an "outperform" rating on shares of Exagen in a research report on Wednesday, November 13th.

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).