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

Exagen Inc. (NASDAQ:XGN) saw a significant decline in short interest in April. As of April 15th, there was short interest totalling 11,900 shares, a decline of 42.0% from the March 31st total of 20,500 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 38,200 shares, the days-to-cover ratio is presently 0.3 days.

Exagen Price Performance

Exagen stock opened at $1.41 on Friday. Exagen has a 52 week low of $1.30 and a 52 week high of $3.92. The business has a 50-day simple moving average of $1.68 and a 200 day simple moving average of $1.76. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.85. The stock has a market cap of $24.34 million, a price-to-earnings ratio of -1.05 and a beta of 1.19.

Exagen (NASDAQ:XGN) last posted its earnings results on Monday, March 18th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $11.43 million. During the same quarter in the previous year, the firm earned ($0.58) earnings per share. On average, research analysts forecast that Exagen will post -1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Exagen

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

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).