Exagen Inc. (NASDAQ:XGN) Short Interest Down 23.5% in March

Exagen Inc. (NASDAQ:XGN - Get Free Report) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 17,600 shares, a drop of 23.5% from the February 28th total of 23,000 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 146,200 shares, the short-interest ratio is presently 0.1 days.

Exagen Stock Performance

Shares of NASDAQ XGN traded down $0.16 during mid-day trading on Thursday, hitting $4.27. The company had a trading volume of 75,699 shares, compared to its average volume of 84,619. Exagen has a 12 month low of $1.30 and a 12 month high of $6.22. The stock has a market cap of $76.42 million, a price-to-earnings ratio of -4.54 and a beta of 1.40. 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 firm's 50 day simple moving average is $3.90 and its two-hundred day simple moving average is $3.66.

Institutional Investors Weigh In On Exagen

Large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank bought a new position in shares of Exagen during the fourth quarter worth about $3,655,000. Driehaus Capital Management LLC acquired a new position in Exagen during the 4th quarter valued at about $1,716,000. Kennedy Capital Management LLC grew its position in Exagen by 8.8% in the 4th quarter. Kennedy Capital Management LLC now owns 184,473 shares of the company's stock worth $756,000 after purchasing an additional 14,920 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Exagen by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 98,057 shares of the company's stock valued at $402,000 after purchasing an additional 10,442 shares during the period. Finally, Palumbo Wealth Management LLC raised its holdings 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 valued at $355,000 after buying an additional 10,340 shares during the last quarter. 75.25% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

XGN has been the subject of a number of research analyst reports. William Blair reiterated an "outperform" rating on shares of Exagen in a report on Wednesday, March 12th. Canaccord Genuity Group increased their target price on shares of Exagen from $5.00 to $7.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $8.00 price target on shares of Exagen in a report on Monday, January 13th.

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).