Exagen (NASDAQ:XGN) Stock: Insider Jorey Chernett Acquires 71,315 Shares

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett acquired 71,315 shares of Exagen stock in a transaction dated Wednesday, November 11th. The stock was bought at an average price of $5.23 per share, with a total value of $372,977.45. Following the completion of the purchase, the insider directly owned 2,696,940 shares in the company, valued at $14,104,996.20. This represents a 2.72% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 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 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 Tuesday, November 10th, Jorey Chernett bought 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 bought 8,500 shares of Exagen stock. The shares were bought at an average price 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 bought at an average cost of $7.46 per share, with a total value of $104,440.00.

Exagen Stock Performance

Shares of XGN opened at $5.03 on Thursday. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 1.96. The business has a 50-day simple moving average of $7.84 and a two-hundred day simple moving average of $5.13. The stock has a market cap of $121.85 million, a price-to-earnings ratio of -6.71 and a beta of 2.25. Exagen Inc. has a 52 week low of $2.59 and a 52 week high of $9.73.

Exagen (NASDAQ:XGN) last posted its quarterly earnings data on Tuesday, November 10th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Exagen had a negative return on equity of 123.63% and a negative net margin of 25.14%. The company had revenue of $18.42 million during the quarter, compared to the consensus estimate of $18.34 million. On average, analysts expect that Exagen Inc. will post -0.69 EPS for the current year.

Institutional Trading of Exagen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LP bought a new stake in Exagen during the 2nd quarter valued at approximately $52,000. Penbrook Management LLC bought a new position in Exagen in the 3rd quarter worth approximately $92,000. Calamos Advisors LLC purchased a new stake in Exagen during the 3rd quarter valued at approximately $94,000. Bank of New York Mellon Corp purchased a new stake in Exagen during the 2nd quarter valued at approximately $97,000. Finally, Dimensional Fund Advisors LP grew its holdings in 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 buying an additional 36,213 shares in the last quarter. Institutional investors own 75.25% of the company’s stock.

Analysts Set New Price Targets

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

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.