Exagen Inc. (NASDAQ:XGN) Short Interest Up 52.8% in July

Key Points

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Exagen Inc. (NASDAQ:XGN - Get Free Report) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 1,410,000 shares, agrowthof52.8% from the July 15th total of 922,600 shares. Currently,10.4% of the shares of the company are sold short. Based on an average daily volume of 323,000 shares, the days-to-cover ratio is currently 4.4 days. Based on an average daily volume of 323,000 shares, the days-to-cover ratio is currently 4.4 days. Currently,10.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Exagen

A number of institutional investors have recently bought and sold shares of XGN. Toronto Dominion Bank bought a new position in Exagen in the fourth quarter worth about $3,655,000. Balyasny Asset Management L.P. purchased a new stake in Exagen in the second quarter worth about $5,017,000. Driehaus Capital Management LLC purchased a new stake in Exagen in the fourth quarter worth about $1,716,000. Russell Investments Group Ltd. purchased a new stake in Exagen in the second quarter worth about $1,540,000. Finally, FourWorld Capital Management LLC purchased a new stake in Exagen in the second quarter worth about $1,456,000. 75.25% of the stock is owned by institutional investors.

Exagen Trading Up 1.2%

Shares of NASDAQ:XGN traded up $0.12 during midday trading on Friday, hitting $10.10. 495,160 shares of the stock traded hands, compared to its average volume of 367,297. The stock has a market capitalization of $222.20 million, a PE ratio of -11.35 and a beta of 1.61. The business's 50 day moving average is $7.90 and its two-hundred day moving average is $6.00. The company has a quick ratio of 4.95, a current ratio of 4.95 and a debt-to-equity ratio of 1.06. Exagen has a one year low of $2.38 and a one year high of $10.34.

Exagen (NASDAQ:XGN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). Exagen had a negative net margin of 28.85% and a negative return on equity of 130.38%. The firm had revenue of $17.20 million during the quarter, compared to the consensus estimate of $16.25 million. Exagen has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Exagen will post -0.88 earnings per share for the current year.

Wall Street Analyst Weigh In

XGN has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $10.00 price target on shares of Exagen in a research report on Wednesday, July 30th. KeyCorp upgraded shares of Exagen from a "sector weight" rating to an "overweight" rating and set a $12.00 target price for the company in a research report on Wednesday, July 30th. Canaccord Genuity Group upped their target price on shares of Exagen from $8.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. UBS Group reiterated an "overweight" rating on shares of Exagen in a research report on Thursday, May 15th. Finally, BTIG Research reiterated a "buy" rating on shares of Exagen in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Exagen has a consensus rating of "Buy" and an average price target of $11.25.

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).