Exagen (NASDAQ:XGN) Major Shareholder Jorey Chernett Buys 8,500 Shares of Company Stock

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett acquired 8,500 shares of the company’s stock in a transaction dated Monday, November 9th. The stock was acquired at an average price of $6.35 per share, for a total transaction of $53,975.00. Following the completion of the purchase, the insider directly owned 2,618,540 shares of the company’s stock, valued at $16,627,729. This trade represents a 0.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% 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 6th, Jorey Chernett sold 11,265 shares of Exagen stock. The shares were sold at an average price of $6.14, for a total value of $69,167.10.
• On Tuesday, November 10th, Jorey Chernett purchased 7,085 shares of Exagen stock. The stock was acquired at an average cost of $5.26 per share, for a total transaction of $37,267.10.
• On Monday, October 19th, Jorey Chernett purchased 14,000 shares of Exagen stock. The shares were acquired at an average price of $7.46 per share, with a total value of $104,440.00.

Exagen Price Performance

Shares of XGN stock opened at $5.26 on Wednesday. Exagen Inc. has a 12 month low of $2.59 and a 12 month high of $9.73. The stock has a 50 day moving average of $7.88 and a 200-day moving average of $5.13. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 1.96.

Exagen (NASDAQ:XGN) last released 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 company had revenue of $18.42 million for the quarter, compared to analyst estimates of $18.34 million. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. Research analysts predict that Exagen Inc. will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Exagen

A number of institutional investors have recently added to or reduced their stakes in the stock. Flputnam Investment Management Co. bought a new stake in shares of Exagen in the 2nd quarter valued at approximately $1,343,000. GSA Capital Partners LLP bought a new position in shares of Exagen during the 2nd quarter worth approximately $998,000. Man Group plc acquired a new stake in Exagen in the 2nd quarter valued at $778,000. FourWorld Capital Management LLC boosted its stake in Exagen by 61.2% in the 1st quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company’s stock valued at $1,320,000 after buying an additional 166,950 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in Exagen in the second quarter valued at $663,000. 75.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on XGN shares. BTIG Research increased their target price on shares of Exagen from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. TD Cowen raised their price objective on Exagen from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. B. Riley Financial began coverage on Exagen in a report on Friday, September 11th. They set a “buy” rating and a $12.00 price objective on the stock. Canaccord Genuity Group boosted their price objective on Exagen from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, October 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Exagen in a research note on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Exagen currently has an average rating of “Moderate Buy” and a consensus price target of $10.12.

More Exagen News

Here are the key news stories impacting Exagen this week:

• Positive Sentiment: Third-quarter revenue rose 7% year over year to $18.4 million, slightly above analysts’ estimates. For the first nine months, revenue grew 11%, net loss narrowed 12%, and adjusted EBITDA loss improved more than 30%. Exagen third-quarter results
• Positive Sentiment: Major shareholder Jorey Chernett’s reported purchases on Nov. 9 and 10 exceeded his Nov. 6 sale by 4,320 shares overall, a modest signal of confidence. Exagen also reiterated its 2026 revenue outlook of $72 million to $75 million and expects to launch its myositis offering in early 2027.
• Neutral Sentiment: Revenue guidance includes the analyst consensus estimate of $73.9 million, making the reaffirmation broadly in line with expectations rather than a clear forecast upgrade.
• Negative Sentiment: Exagen reported a loss of $0.25 per share, wider than estimates of about $0.18–$0.19. Operating expenses increased, widening the quarterly operating loss to $4.4 million from $3.1 million a year earlier; quarterly adjusted EBITDA loss also edged wider. Cash was $28.1 million, down from $35.7 million a year earlier. These results raise concerns about near-term profitability and cash use despite sales growth.

Exagen Company Profile

Exagen Inc. is a commercial-stage diagnostic company focused on improving the diagnosis and management of autoimmune and rheumatic diseases. The company develops and commercializes blood tests that help physicians identify autoimmune disease, distinguish among related conditions and monitor disease activity over time. Its principal product family is AVISE, which includes the AVISE CTD and AVISE Lupus tests, as well as monitoring and specialty tests used in the evaluation of systemic lupus erythematosus and other connective-tissue diseases.