Insider Selling: Exagen (NASDAQ:XGN) Major Shareholder Sells $508,877.40 in Stock

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett sold 109,436 shares of the company’s stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $4.65, for a total transaction of $508,877.40. Following the completion of the transaction, the insider owned 2,587,504 shares in the company, valued at approximately $12,031,893.60. This represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, November 13th, Jorey Chernett sold 58,068 shares of Exagen stock. The stock was sold at an average price of $4.08, for a total transaction of $236,917.44.
• On Wednesday, November 11th, Jorey Chernett bought 71,315 shares of Exagen stock. The shares were bought at an average cost 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 shares were sold at an average price of $6.14, for a total transaction of $69,167.10.
• On Tuesday, November 10th, Jorey Chernett purchased 7,085 shares of Exagen stock. The shares were bought at an average price of $5.26 per share, for a total transaction of $37,267.10.
• On Monday, November 9th, Jorey Chernett purchased 8,500 shares of Exagen stock. The stock was bought 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 stock was bought at an average cost of $7.46 per share, for a total transaction of $104,440.00.

Exagen Price Performance

Shares of NASDAQ:XGN traded down $0.28 during midday trading on Friday, hitting $4.13. 3,356,140 shares of the stock were exchanged, compared to its average volume of 581,895. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.46 and a quick ratio of 3.18. Exagen Inc. has a 52-week low of $2.59 and a 52-week high of $9.28. The business’s fifty day simple moving average is $7.71 and its two-hundred day simple moving average is $5.13.

Exagen (NASDAQ:XGN) last issued its earnings results on Tuesday, November 10th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Exagen had a negative net margin of 25.14% and a negative return on equity of 125.60%. The firm had revenue of $18.42 million during the quarter, compared to analysts’ expectations of $18.34 million. On average, sell-side analysts forecast that Exagen Inc. will post -0.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on XGN. Weiss Ratings reiterated a “sell (e+)” rating on shares of Exagen in a report on Wednesday, November 4th. TD Cowen increased their price objective on Exagen from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. B. Riley Financial began coverage on Exagen in a report on Friday, September 11th. They issued a “buy” rating and a $12.00 price objective on the stock. Canaccord Genuity Group cut their price objective on shares of Exagen from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, BTIG Research reiterated a “buy” rating and issued a $9.00 target price on shares of Exagen in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.88.

Hedge Funds Weigh In On Exagen

Several institutional investors have recently bought and sold shares of XGN. Corient Private Wealth LP acquired a new stake in shares of Exagen in the second quarter worth about $52,000. Penbrook Management LLC bought a new stake in shares of Exagen during the 3rd quarter worth about $92,000. Calamos Advisors LLC bought a new stake in shares of Exagen during the 3rd quarter worth about $94,000. Bank of New York Mellon Corp acquired a new position in shares of Exagen during the 2nd quarter valued at about $97,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Exagen by 137.4% during the 1st 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 last quarter. 75.25% of the stock is currently owned by institutional investors.

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.