Exagen Inc. (NASDAQ:XGN) Short Interest Up 122.1% in October

Exagen Inc. (NASDAQ:XGN) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 52,200 shares, an increase of 122.1% from the October 15th total of 23,500 shares. Based on an average trading volume of 36,800 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.6% of the shares of the stock are short sold.

Institutional Investors Weigh In On Exagen

A number of hedge funds and other institutional investors have recently bought and sold shares of XGN. Verus Capital Partners LLC acquired a new position in shares of Exagen during the third quarter valued at about $39,000. Palumbo Wealth Management LLC increased its stake in Exagen by 14.5% during the 3rd quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after purchasing an additional 9,695 shares in the last quarter. Creative Planning purchased a new position in shares of Exagen in the third quarter worth $110,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Exagen by 93.3% during the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock worth $172,000 after buying an additional 45,476 shares during the period. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Exagen Stock Performance

Exagen stock opened at $2.75 on Thursday. The company has a 50 day moving average price of $2.84 and a 200-day moving average price of $2.37. The company has a market capitalization of $47.82 million, a PE ratio of -2.93 and a beta of 1.35. Exagen has a fifty-two week low of $1.30 and a fifty-two week high of $3.71. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.32 and a current ratio of 4.32.

Exagen (NASDAQ:XGN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. The company had revenue of $12.51 million during the quarter, compared to the consensus estimate of $13.55 million. Exagen had a negative net margin of 30.36% and a negative return on equity of 84.26%. During the same quarter in the previous year, the firm posted ($0.31) earnings per share. As a group, equities analysts forecast that Exagen will post -1.02 earnings per share for the current year.

Analyst Ratings Changes

Separately, William Blair restated an “outperform” rating on shares of Exagen in a report on Wednesday.

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).