Insider Selling: Exagen (NASDAQ:XGN) Major Shareholder Sells 11,265 Shares of Company Stock

Key Points

• Major shareholder Jorey Chernett sold 11,265 Exagen shares for about $69,167, a 0.43% reduction in his holdings; he retained roughly 2.61 million shares. He subsequently bought 15,585 shares in two transactions, more than offsetting the sale by 4,320 shares.
• Exagen reported quarterly revenue of $18.42 million, slightly above estimates, but its loss of $0.25 per share was wider than analysts expected. The company also reported negative margins and lower cash than a year earlier.
• Exagen shares fell 25.9% to $5.26 during Tuesday’s trading. Analysts’ consensus rating was “Moderate Buy,” with a consensus price target of $10.12.

Exagen Inc. (NASDAQ:XGN - Get Free Report) major shareholder Jorey Chernett sold 11,265 shares of the stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $6.14, for a total transaction of $69,167.10. Following the transaction, the insider directly owned 2,610,040 shares in the company, valued at $16,025,645.60. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a 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 sales and purchases with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Tuesday, November 10th, Jorey Chernett acquired 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 bought 8,500 shares of Exagen stock. The stock was acquired at an average price 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 bought at an average price of $7.46 per share, for a total transaction of $104,440.00.

Exagen Stock Down 25.9%

Shares of XGN traded down $1.84 during trading hours on Tuesday, reaching $5.26. 2,191,440 shares of the stock traded hands, compared to its average volume of 415,796. 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 stock has a fifty day simple moving average of $7.88 and a 200 day simple moving average 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 released its earnings results on Tuesday, November 10th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.07). Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. The company had revenue of $18.42 million for the quarter, compared to the consensus estimate of $18.34 million. As a group, research analysts expect that Exagen Inc. will post -0.69 EPS for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Exagen

Several large investors have recently bought and sold shares of XGN. Russell Investments Group Ltd. purchased a new position in Exagen in the 3rd quarter worth about $418,000. Calamos Advisors LLC purchased a new stake in shares of Exagen during the 3rd quarter valued at about $94,000. Penbrook Management LLC purchased a new stake in shares of Exagen during the 3rd quarter valued at about $92,000. Flputnam Investment Management Co. bought a new stake in shares of Exagen in the second quarter worth approximately $1,343,000. Finally, Corient Private Wealth LP bought a new stake in shares of Exagen in the second quarter worth approximately $52,000. 75.25% of the stock is currently owned by institutional investors.

Key Headlines Impacting Exagen

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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.