Exagen (NASDAQ:XGN) Major Shareholder Sells $236,917.44 in Stock

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett sold 58,068 shares of the stock in a transaction on Friday, November 13th. The shares were sold at an average price of $4.08, for a total value of $236,917.44. Following the completion of the transaction, the insider directly owned 2,529,436 shares in the company, valued at approximately $10,320,098.88. This trade represents a 2.24% decrease 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 more than 10% 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 Thursday, November 12th, Jorey Chernett sold 109,436 shares of Exagen stock. The shares were sold at an average price of $4.65, for a total transaction of $508,877.40.
• On Wednesday, November 11th, Jorey Chernett bought 71,315 shares of Exagen stock. The shares were bought at an average price of $5.23 per share, for a total transaction 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 value of $69,167.10.
• On Tuesday, November 10th, Jorey Chernett bought 7,085 shares of Exagen stock. The shares were acquired at an average price of $5.26 per share, with a total value of $37,267.10.
• On Monday, November 9th, Jorey Chernett purchased 8,500 shares of Exagen stock. The shares were bought at an average cost of $6.35 per share, for a total transaction of $53,975.00.
• On Monday, October 19th, Jorey Chernett bought 14,000 shares of Exagen stock. The stock was purchased at an average cost of $7.46 per share, for a total transaction of $104,440.00.

Exagen Stock Performance

Exagen stock traded down $0.28 during mid-day trading on Friday, hitting $4.13. 3,356,140 shares of the company’s stock traded hands, compared to its average volume of 581,895. The stock has a market cap of $105.36 million, a price-to-earnings ratio of -5.51 and a beta of 2.25. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.46 and a quick ratio of 3.18. The firm has a 50 day simple moving average of $7.71 and a two-hundred day simple moving average of $5.13. Exagen Inc. has a fifty-two week low of $2.59 and a fifty-two week high of $9.28.

Exagen (NASDAQ:XGN) last posted its quarterly earnings data on Tuesday, November 10th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The firm 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%. On average, research analysts expect that Exagen Inc. will post -0.71 EPS for the current fiscal year.

Institutional Trading of Exagen

A number of large investors have recently modified their holdings of the business. Empowered Funds LLC purchased a new position in Exagen in the third quarter worth $198,000. Russell Investments Group Ltd. purchased a new stake in Exagen during the 3rd quarter valued at $418,000. Calamos Advisors LLC bought a new position in Exagen during the 3rd quarter valued at approximately $94,000. Penbrook Management LLC purchased a new position in shares of Exagen during the third quarter valued at approximately $92,000. Finally, Flputnam Investment Management Co. purchased a new position in Exagen during the 2nd quarter valued at $1,343,000. Institutional investors own 75.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on XGN shares. 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. Weiss Ratings reissued 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 price objective on shares of Exagen in a report on Wednesday. TD Cowen boosted 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. Finally, Canaccord Genuity Group lowered their target price on shares of Exagen from $11.00 to $9.00 and set a “buy” rating for the company in a report 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 company. According to data from MarketBeat.com, Exagen presently has a consensus rating of “Moderate Buy” and an average price target of $9.88.

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.