Exagen (NASDAQ:XGN) Stock: Insider Jorey Chernett Purchases 14,000 Shares

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett purchased 14,000 shares of the company’s stock in a transaction dated Monday, October 19th. The shares were purchased at an average price of $7.46 per share, for a total transaction of $104,440.00. Following the completion of the purchase, the insider owned 2,618,540 shares of the company’s stock, valued at approximately $19,534,308.40. This trade represents a 0.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Exagen Stock Up 6.3%

NASDAQ XGN opened at $7.88 on Thursday. Exagen Inc. has a 52-week low of $2.59 and a 52-week high of $12.23. The firm has a 50-day moving average price of $7.79 and a 200 day moving average price of $5.48. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.18 and a quick ratio of 3.18.

Exagen (NASDAQ:XGN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. The firm had revenue of $19.94 million during the quarter, compared to the consensus estimate of $17.80 million. On average, equities research analysts predict that Exagen Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in XGN. R Squared Ltd lifted its position in shares of Exagen by 49.0% during the 1st quarter. R Squared Ltd now owns 27,107 shares of the company’s stock valued at $81,000 after acquiring an additional 8,915 shares during the period. Corient Private Wealth LP purchased a new stake in shares of Exagen during the 2nd quarter worth approximately $52,000. Penbrook Management LLC purchased a new stake in shares of Exagen during the 3rd quarter worth approximately $92,000. Bank of New York Mellon Corp acquired a new stake in shares of Exagen in the 2nd quarter worth approximately $97,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Exagen by 137.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 62,571 shares of the company’s stock worth $188,000 after acquiring an additional 36,213 shares during the period. 75.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. BTIG Research upped their price objective on Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. TD Cowen increased 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. Canaccord Genuity Group raised their target price on Exagen from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday. B. Riley Financial initiated coverage on Exagen in a report on Friday, September 11th. They issued a “buy” rating and a $12.00 target price for the company. Finally, Roth Capital initiated coverage on shares of Exagen in a research report on Wednesday, June 24th. They set a “buy” rating and a $8.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.12.

About Exagen

Exagen Inc (NASDAQ: XGN) is a diagnostic healthcare company focused on autoimmune diseases. The company develops and commercializes blood tests designed to help physicians diagnose, differentiate and monitor conditions such as systemic lupus erythematosus, rheumatoid arthritis and other connective tissue diseases.

Exagen’s principal product family is AVISE, a suite of proprietary autoimmune testing services that includes AVISE CTD, AVISE Lupus and monitoring tests. These assays combine multiple biomarkers and are intended to provide physicians with information that may support earlier or more informed clinical decisions, particularly in rheumatology.

Exagen operates a specialized laboratory testing business serving healthcare providers primarily in the United States.