Exagen Inc. (NASDAQ:XGN) Short Interest Update

Exagen Inc. (NASDAQ:XGN) was the target of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 29,100 shares, a decrease of 22.2% from the June 30th total of 37,400 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 36,900 shares, the days-to-cover ratio is presently 0.8 days.

Exagen Price Performance

XGN opened at $2.01 on Monday. The stock’s 50-day moving average price is $1.93 and its 200 day moving average price is $1.82. Exagen has a 12-month low of $1.30 and a 12-month high of $2.95. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.96. The firm has a market cap of $34.91 million, a price-to-earnings ratio of -1.84 and a beta of 1.28.

Exagen (NASDAQ:XGN) last posted its earnings results on Monday, May 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.21. The firm had revenue of $14.42 million for the quarter, compared to analyst estimates of $13.20 million. Exagen had a negative return on equity of 75.86% and a negative net margin of 34.74%. As a group, sell-side analysts expect that Exagen will post -1.23 earnings per share for the current year.

Insider Transactions at Exagen

In other Exagen news, CEO John Aballi purchased 40,401 shares of the stock in a transaction dated Thursday, May 16th. The stock was acquired at an average cost of $1.92 per share, for a total transaction of $77,569.92. Following the acquisition, the chief executive officer now owns 40,401 shares in the company, valued at approximately $77,569.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 26.10% of the company’s stock.

Institutional Investors Weigh In On Exagen

An institutional investor recently raised its position in Exagen stock. Perkins Capital Management Inc. raised its stake in Exagen Inc. (NASDAQ:XGN) by 92.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,905 shares of the company’s stock after purchasing an additional 245,000 shares during the period. Perkins Capital Management Inc. owned about 2.98% of Exagen worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 75.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald increased their target price on Exagen from $5.00 to $7.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th.

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).