Exagen Inc. (NASDAQ:XGN) Short Interest Up 59.4% in May

Exagen Inc. (NASDAQ:XGN - Get Free Report) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 144,300 shares, a growth of 59.4% from the April 30th total of 90,500 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 193,200 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of Exagen

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in shares of Exagen during the 1st quarter valued at $25,000. Huntleigh Advisors Inc. boosted its stake in Exagen by 16.8% during the 1st quarter. Huntleigh Advisors Inc. now owns 83,108 shares of the company's stock valued at $298,000 after purchasing an additional 11,939 shares during the period. Palumbo Wealth Management LLC increased its position in Exagen by 14.4% during the first quarter. Palumbo Wealth Management LLC now owns 99,205 shares of the company's stock worth $356,000 after acquiring an additional 12,501 shares during the period. Toronto Dominion Bank bought a new stake in shares of Exagen in the fourth quarter valued at about $3,655,000. Finally, Driehaus Capital Management LLC bought a new stake in shares of Exagen in the 4th quarter worth approximately $1,716,000. 75.25% of the stock is currently owned by institutional investors.

Exagen Stock Down 0.1%

Shares of NASDAQ:XGN traded down $0.01 during mid-day trading on Friday, hitting $6.97. 266,588 shares of the company traded hands, compared to its average volume of 117,920. Exagen has a 52-week low of $1.71 and a 52-week high of $7.20. The firm has a market cap of $148.46 million, a P/E ratio of -7.41 and a beta of 1.50. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.05 and a current ratio of 4.05. The firm's 50 day simple moving average is $5.37 and its 200 day simple moving average is $4.49.

Exagen (NASDAQ:XGN - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. The business had revenue of $15.50 million during the quarter, compared to analyst estimates of $14.55 million. During the same period in the previous year, the business posted ($0.19) EPS. On average, equities analysts anticipate that Exagen will post -0.88 EPS for the current year.

Analysts Set New Price Targets

XGN has been the topic of several research analyst reports. BTIG Research reiterated a "buy" rating on shares of Exagen in a research report on Wednesday, May 7th. UBS Group restated an "overweight" rating on shares of Exagen in a research report on Thursday, May 15th. Canaccord Genuity Group boosted their price objective on Exagen from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Cantor Fitzgerald reduced their target price on Exagen from $8.00 to $7.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Finally, William Blair reissued an "outperform" rating on shares of Exagen in a report on Wednesday, March 12th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Exagen has an average rating of "Buy" and a consensus target price of $7.50.

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).