Exagen Inc. (NASDAQ:XGN) Sees Large Decline in Short Interest

Exagen Inc. (NASDAQ:XGNGet Free Report) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 11,900 shares, a drop of 42.0% from the March 31st total of 20,500 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 38,200 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Stonepine Capital Management LLC increased its holdings in shares of Exagen by 14.7% during the 3rd quarter. Stonepine Capital Management LLC now owns 1,203,491 shares of the company’s stock worth $2,912,000 after buying an additional 154,139 shares during the last quarter. Perkins Capital Management Inc. increased its holdings in shares of Exagen by 92.8% during the 4th quarter. Perkins Capital Management Inc. now owns 508,905 shares of the company’s stock worth $1,013,000 after buying an additional 245,000 shares during the last quarter. Finally, RTW Investments LP increased its holdings in shares of Exagen by 0.8% during the 4th quarter. RTW Investments LP now owns 1,504,602 shares of the company’s stock worth $2,994,000 after buying an additional 12,170 shares during the last quarter. 75.25% of the stock is owned by hedge funds and other institutional investors.

Exagen Stock Performance

XGN opened at $1.41 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.02 and a quick ratio of 4.02. The company’s 50 day simple moving average is $1.68 and its two-hundred day simple moving average is $1.76. Exagen has a 1-year low of $1.30 and a 1-year high of $3.92. The firm has a market capitalization of $24.34 million, a price-to-earnings ratio of -1.05 and a beta of 1.19.

Exagen (NASDAQ:XGNGet Free Report) last released its earnings results on Monday, March 18th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.02). Exagen had a negative return on equity of 80.28% and a negative net margin of 45.08%. The business had revenue of $13.77 million during the quarter, compared to analysts’ expectations of $11.43 million. During the same period last year, the business earned ($0.58) earnings per share. Analysts expect that Exagen will post -1.46 EPS for the current fiscal year.

About Exagen

(Get Free Report)

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).

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