Insider Buying: Exagen (NASDAQ:XGN) Major Shareholder Purchases $37,267.10 in Stock

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett bought 7,085 shares of the company’s stock in a transaction dated Tuesday, November 10th. The stock was purchased at an average cost of $5.26 per share, for a total transaction of $37,267.10. Following the completion of the acquisition, the insider owned 2,625,625 shares in the company, valued at $13,810,787.50. This trade represents a 0.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Wednesday, November 11th, Jorey Chernett bought 71,315 shares of Exagen stock. The stock was purchased at an average price of $5.23 per share, with a total value of $372,977.45.
• On Friday, November 6th, Jorey Chernett sold 11,265 shares of Exagen stock. The stock was sold at an average price of $6.14, for a total value of $69,167.10.
• On Monday, November 9th, Jorey Chernett purchased 8,500 shares of Exagen stock. The shares were acquired at an average cost of $6.35 per share, for a total transaction of $53,975.00.
• On Monday, October 19th, Jorey Chernett purchased 14,000 shares of Exagen stock. The shares were acquired at an average cost of $7.46 per share, for a total transaction of $104,440.00.

Exagen Price Performance

XGN opened at $4.41 on Friday. Exagen Inc. has a 12-month low of $2.59 and a 12-month high of $9.73. The business has a 50 day moving average of $7.78 and a 200-day moving average of $5.13. The company has a quick ratio of 3.18, a current ratio of 3.46 and a debt-to-equity ratio of 1.73.

Exagen (NASDAQ:XGN) last issued its earnings results on Tuesday, November 10th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The business had revenue of $18.42 million for the quarter, compared to the consensus estimate of $18.34 million. Exagen had a negative return on equity of 125.60% and a negative net margin of 25.14%. As a group, research analysts predict that Exagen Inc. will post -0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

XGN has been the topic of several research reports. TD Cowen upped their price objective on shares of Exagen from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Exagen in a research note on Wednesday, November 4th. BTIG Research restated a “buy” rating and set a $9.00 target price on shares of Exagen in a research note on Wednesday. B. Riley Financial assumed coverage on shares of Exagen in a report on Friday, September 11th. They set a “buy” rating and a $12.00 target price for the company. Finally, Canaccord Genuity Group decreased their price target on shares of Exagen from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Exagen currently has an average rating of “Moderate Buy” and a consensus price target of $9.88.

Institutional Trading of Exagen

Hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LP acquired a new position in Exagen in the 2nd quarter valued at $52,000. Penbrook Management LLC acquired a new stake in shares of Exagen during the third quarter worth $92,000. Calamos Advisors LLC acquired a new stake in shares of Exagen during the third quarter worth $94,000. Bank of New York Mellon Corp acquired a new stake in shares of Exagen during the second quarter worth $97,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Exagen by 137.4% in the first quarter. Dimensional Fund Advisors LP now owns 62,571 shares of the company’s stock valued at $188,000 after acquiring an additional 36,213 shares during the period. 75.25% of the stock is owned by institutional investors and hedge funds.

Exagen Company Profile

Exagen Inc. is a diagnostics company focused on testing for autoimmune and rheumatic diseases. It develops and provides blood tests intended to help physicians assess and monitor conditions such as systemic lupus erythematosus and other connective tissue diseases. The company’s AVISE test portfolio includes diagnostic and monitoring tests that use proprietary biomarkers to support clinical evaluation. Its offerings are designed to provide information that may help clinicians distinguish among autoimmune conditions and guide patient care.