Exagen (NASDAQ:XGN) Stock: Insider Jorey Chernett Purchases 8,500 Shares

Key Points

• Major shareholder Jorey Chernett bought 8,500 Exagen shares at an average price of $6.35, spending $53,975 and bringing his holdings to 2.62 million shares.
• Exagen shares fell 25.9% to $5.26 in Tuesday trading, while quarterly earnings missed estimates: the company reported a $0.25-per-share loss versus the expected $0.18 loss.
• Quarterly revenue of $18.42 million slightly exceeded analysts’ estimates, but Exagen remained unprofitable, reporting a 26.61% negative net margin.

Exagen Inc. (NASDAQ:XGN - Get Free Report) major shareholder Jorey Chernett purchased 8,500 shares of the stock in a transaction dated Monday, November 9th. The stock was acquired at an average cost of $6.35 per share, for a total transaction of $53,975.00. Following the completion of the transaction, the insider owned 2,618,540 shares of the company's stock, valued at $16,627,729. The trade was a 0.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions 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 acquired 7,085 shares of Exagen stock. The shares were acquired at an average cost of $5.26 per share, with a total value of $37,267.10.
• On Monday, October 19th, Jorey Chernett acquired 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 Stock Down 25.9%

NASDAQ:XGN traded down $1.84 during mid-day trading on Tuesday, hitting $5.26. 2,191,440 shares of the company's stock traded hands, compared to its average volume of 415,796. The firm has a 50 day moving average of $7.88 and a two-hundred day moving average of $5.13. Exagen Inc. has a 12 month low of $2.59 and a 12 month high of $9.73. 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 - Get Free Report) last released 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). The business had revenue of $18.42 million during the quarter, compared to analyst estimates of $18.34 million. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. Equities analysts expect that Exagen Inc. will post -0.69 earnings per share for the current year.

Institutional Trading of Exagen

Institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of Exagen in the second quarter valued at $998,000. Flputnam Investment Management Co. bought a new position in Exagen in the second quarter worth $1,343,000. Man Group plc bought a new position in Exagen in the second quarter worth $778,000. BlackRock Inc. bought a new position in Exagen in the second quarter worth $663,000. Finally, FourWorld Capital Management LLC boosted its stake in Exagen by 61.2% during the first quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company's stock worth $1,320,000 after buying an additional 166,950 shares in the last quarter. 75.25% of the stock is currently owned by institutional investors.

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.

Analyst Ratings Changes

A number of brokerages recently issued reports on XGN. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Exagen in a research report on Wednesday, November 4th. BTIG Research increased their price target on shares of Exagen from $8.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. B. Riley Financial initiated coverage on shares of Exagen in a research report on Friday, September 11th. They issued a "buy" rating and a $12.00 price target on the stock. TD Cowen boosted their price objective on shares of 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 upped their price objective on shares of Exagen from $9.00 to $11.00 and gave the company a "buy" rating in a research report on Monday, October 19th. One 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. Based on data from MarketBeat, Exagen currently has an average rating of "Moderate Buy" and a consensus target price of $10.12.

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.

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