Exagen (NASDAQ:XGN) Major Shareholder Sells $69,167.10 in Stock

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett sold 11,265 shares of the stock in a transaction on Friday, November 6th. The shares were sold at an average price of $6.14, for a total value of $69,167.10. Following the sale, the insider owned 2,610,040 shares in the company, valued at $16,025,645.60. The trade was a 0.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large 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 Wednesday, November 11th, Jorey Chernett bought 71,315 shares of Exagen stock. The stock was purchased at an average cost of $5.23 per share, for a total transaction of $372,977.45.
• On Tuesday, November 10th, Jorey Chernett acquired 7,085 shares of Exagen stock. The stock was purchased at an average cost of $5.26 per share, with a total value of $37,267.10.
• On Monday, November 9th, Jorey Chernett bought 8,500 shares of Exagen stock. The shares were acquired 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 shares were acquired at an average cost of $7.46 per share, with a total value of $104,440.00.

Exagen Trading Down 12.3%

Shares of Exagen stock opened at $4.41 on Friday. Exagen Inc. has a 52 week low of $2.59 and a 52 week high of $9.73. The stock’s fifty day moving average is $7.78 and its two-hundred day moving average is $5.13. The company has a quick ratio of 3.18, a current ratio of 3.46 and a debt-to-equity ratio of 1.73.

Exagen (NASDAQ:XGN) last issued its earnings results on Tuesday, November 10th. The company reported ($0.25) earnings per share (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 company had revenue of $18.42 million for the quarter, compared to analysts’ expectations of $18.34 million. Sell-side analysts predict that Exagen Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exagen

Large investors have recently made changes to their positions in the stock. Corient Private Wealth LP acquired a new stake in shares of Exagen during the second quarter worth about $52,000. Penbrook Management LLC acquired a new stake in Exagen during the 3rd quarter worth about $92,000. Calamos Advisors LLC acquired a new stake in Exagen during the 3rd quarter worth about $94,000. Bank of New York Mellon Corp purchased a new position in shares of Exagen during the 2nd quarter valued at about $97,000. Finally, Dimensional Fund Advisors LP lifted 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 valued at $188,000 after buying an additional 36,213 shares during the period. 75.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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