Short Interest in Exagen Inc. (NASDAQ:XGN) Expands By 21.7%

Exagen Inc. (NASDAQ:XGN - Get Free Report) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 32,500 shares, a growth of 21.7% from the January 31st total of 26,700 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 176,700 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

XGN has been the topic of a number of recent analyst reports. William Blair reiterated an "outperform" rating on shares of Exagen in a research report on Wednesday, November 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $8.00 target price on shares of Exagen in a research report on Monday, January 13th. Finally, Canaccord Genuity Group raised their price objective on Exagen from $5.00 to $7.00 and gave the company a "buy" rating in a report on Friday, January 3rd.

Exagen Price Performance

XGN stock traded up $0.10 during midday trading on Friday, reaching $3.23. The stock had a trading volume of 19,031 shares, compared to its average volume of 164,646. The company's fifty day simple moving average is $3.83 and its 200 day simple moving average is $3.57. 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 company has a market cap of $56.97 million, a price-to-earnings ratio of -3.44 and a beta of 1.40. Exagen has a 52-week low of $1.30 and a 52-week high of $6.22.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in shares of Exagen by 16.7% during the 4th quarter. Northern Trust Corp now owns 18,375 shares of the company's stock worth $75,000 after acquiring an additional 2,630 shares during the period. Palumbo Wealth Management LLC raised its holdings in shares of Exagen by 13.5% during the 4th 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 period. Geode Capital Management LLC raised its holdings 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 during the period. Corient Private Wealth LLC purchased a new position in shares of Exagen during the 4th quarter worth $45,000. Finally, Virtu Financial LLC purchased a new position in shares of Exagen during the 4th quarter worth $46,000. Hedge funds and other institutional investors own 75.25% of the company's stock.

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).