Short Interest in Exagen Inc. (NASDAQ:XGN) Expands By 36.5%

Exagen Inc. (NASDAQ:XGN) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 78,100 shares, an increase of 36.5% from the November 30th total of 57,200 shares. Based on an average daily volume of 82,200 shares, the short-interest ratio is currently 1.0 days. Approximately 0.9% of the company’s stock are short sold.

Insider Buying and Selling at Exagen

In related news, CEO John Aballi bought 24,305 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $2.81 per share, for a total transaction of $68,297.05. Following the purchase, the chief executive officer now owns 689,799 shares in the company, valued at $1,938,335.19. This trade represents a 3.65 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $3.30, for a total transaction of $660,000.00. Following the transaction, the insider now directly owns 2,108,958 shares in the company, valued at $6,959,561.40. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. 26.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exagen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Verus Capital Partners LLC bought a new stake in Exagen during the 3rd quarter valued at $39,000. Creative Planning acquired a new position in shares of Exagen during the third quarter valued at $110,000. Renaissance Technologies LLC raised 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 valued at $172,000 after purchasing an additional 45,476 shares in the last quarter. Palumbo Wealth Management LLC lifted its holdings in Exagen by 14.5% in the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock worth $236,000 after purchasing an additional 9,695 shares during the period. Finally, Stonepine Capital Management LLC grew its position in Exagen by 49.0% in the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock valued at $1,651,000 after buying an additional 175,701 shares in the last quarter. 75.25% of the stock is currently owned by institutional investors and hedge funds.

Exagen Stock Down 6.5 %

Shares of Exagen stock opened at $4.71 on Monday. Exagen has a twelve month low of $1.30 and a twelve month high of $6.22. The stock has a market capitalization of $83.07 million, a price-to-earnings ratio of -5.01 and a beta of 1.49. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.54. The business’s 50 day simple moving average is $3.84 and its 200-day simple moving average is $2.99.

Exagen (NASDAQ:XGN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. The business had revenue of $12.51 million for the quarter, compared to analysts’ expectations of $13.55 million. Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. During the same quarter last year, the company earned ($0.31) EPS. Equities research analysts forecast that Exagen will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, William Blair reaffirmed an “outperform” rating on shares of Exagen in a report on Wednesday, November 13th.

About Exagen

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).