Exagen (NASDAQ:XGN) Major Shareholder Jorey Chernett Acquires 7,085 Shares of Company Stock

Key Points

• Major shareholder Jorey Chernett bought 7,085 Exagen shares at an average $5.26 each, adding about $37,267 to his holdings; he directly owned 2,625,625 shares after the purchase.
• Exagen shares fell 25.9% to $5.26 during Tuesday trading. The company reported a quarterly loss of $0.25 per share, missing estimates, while revenue of $18.42 million slightly exceeded expectations.
• Analyst sentiment remains broadly positive: Exagen has a “Moderate Buy” consensus rating and an average price target of $10.12, though one analyst rates the stock Sell.

Exagen Inc. (NASDAQ:XGN - Get Free Report) major shareholder Jorey Chernett bought 7,085 shares of Exagen stock in a transaction dated Tuesday, November 10th. The shares were acquired at an average cost of $5.26 per share, for a total transaction of $37,267.10. Following the completion of the purchase, the insider directly owned 2,625,625 shares of the company's stock, valued at approximately $13,810,787.50. This trade represents a 0.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $6.14, for a total value of $69,167.10.
• On Monday, November 9th, Jorey Chernett purchased 8,500 shares of Exagen stock. The stock was acquired at an average cost of $6.35 per share, with a total value of $53,975.00.
• On Monday, October 19th, Jorey Chernett purchased 14,000 shares of Exagen stock. The stock was bought at an average price of $7.46 per share, for a total transaction of $104,440.00.

Exagen Stock Down 25.9%

NASDAQ:XGN traded down $1.84 during trading hours on Tuesday, hitting $5.26. The company had a trading volume of 2,191,440 shares, compared to its average volume of 415,796. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.18 and a current ratio of 3.18. The stock has a 50-day moving average price of $7.88 and a 200 day moving average price of $5.13. Exagen Inc. has a 52 week low of $2.59 and a 52 week high of $9.73.

Exagen (NASDAQ:XGN - Get Free Report) last issued 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 104.46% and a negative net margin of 26.61%. The company had revenue of $18.42 million during the quarter, compared to the consensus estimate of $18.34 million. Equities analysts anticipate that Exagen Inc. will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of XGN. Russell Investments Group Ltd. bought a new stake in Exagen during the third quarter worth about $418,000. Calamos Advisors LLC purchased a new stake in Exagen in the third quarter worth about $94,000. Penbrook Management LLC bought a new position in shares of Exagen during the third quarter valued at approximately $92,000. Flputnam Investment Management Co. bought a new position in shares of Exagen during the second quarter valued at approximately $1,343,000. Finally, Corient Private Wealth LP bought a new position in shares of Exagen during the second quarter valued at approximately $52,000. 75.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. B. Riley Financial initiated coverage on shares of Exagen in a research note on Friday, September 11th. They issued a "buy" rating and a $12.00 price target for the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Exagen in a report on Wednesday, November 4th. Canaccord Genuity Group upped their target price on Exagen from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Monday, October 19th. BTIG Research increased their target price on Exagen from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, TD Cowen raised their target price on Exagen from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, October 13th. One 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.com, Exagen currently has an average rating of "Moderate Buy" and an average target price of $10.12.

Exagen News Summary

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.

About Exagen

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.

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