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

Exagen Inc. (NASDAQ:XGN) was the target of a large 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. Based on an average daily volume of 38,200 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Exagen

A number of institutional investors have recently made changes to their positions in XGN. Perkins Capital Management Inc. increased its stake in Exagen by 92.8% during the fourth quarter. Perkins Capital Management Inc. now owns 508,905 shares of the company’s stock worth $1,013,000 after purchasing an additional 245,000 shares during the period. Stonepine Capital Management LLC lifted its holdings in 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 in the last quarter. Finally, RTW Investments LP boosted its position in 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 buying an additional 12,170 shares during the period. 75.25% of the stock is currently owned by institutional investors and hedge funds.

Exagen Stock Up 1.4 %

NASDAQ:XGN opened at $1.40 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 firm has a market cap of $24.14 million, a PE ratio of -1.04 and a beta of 1.19. The company has a 50-day moving average of $1.69 and a 200 day moving average of $1.77. Exagen has a 1-year low of $1.30 and a 1-year high of $3.92.

Exagen (NASDAQ:XGN) last issued its quarterly earnings data on Monday, March 18th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.02). Exagen had a negative net margin of 45.08% and a negative return on equity of 80.28%. The business had revenue of $13.77 million for the quarter, compared to analysts’ expectations of $11.43 million. During the same period in the previous year, the business earned ($0.58) earnings per share. As a group, research analysts anticipate that Exagen will post -1.46 EPS for the current fiscal year.

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).