Exagen (NASDAQ:XGN) Major Shareholder Buys $104,440.00 in Stock

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett purchased 14,000 shares of the company’s stock in a transaction that occurred on Monday, October 19th. The shares were purchased at an average cost of $7.46 per share, with a total value of $104,440.00. Following the completion of the purchase, the insider owned 2,618,540 shares in the company, valued at $19,534,308.40. This trade represents a 0.54% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Exagen Stock Down 5.1%

Shares of NASDAQ:XGN opened at $7.48 on Friday. Exagen Inc. has a 12 month low of $2.59 and a 12 month high of $12.23. The firm’s 50-day moving average is $7.81 and its 200 day moving average is $5.51. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 1.96.

Exagen (NASDAQ:XGN) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $19.94 million for the quarter, compared to analyst estimates of $17.80 million. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. As a group, sell-side analysts expect that Exagen Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on XGN. B. Riley Financial initiated coverage on Exagen in a report on Friday, September 11th. They issued a “buy” rating and a $12.00 price target on the stock. BTIG Research increased their target price on Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. TD Cowen lifted their target price on Exagen from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Exagen in a research note on Friday, August 7th. Finally, Canaccord Genuity Group upped their price target on shares of Exagen from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.12.

Institutional Trading of Exagen

Several institutional investors and hedge funds have recently modified their holdings of XGN. Flputnam Investment Management Co. purchased a new stake in shares of Exagen in the second quarter valued at approximately $1,343,000. GSA Capital Partners LLP bought a new position in Exagen in the second quarter worth approximately $998,000. Man Group plc purchased a new position in Exagen during the 2nd quarter worth $778,000. FourWorld Capital Management LLC increased its holdings in Exagen by 61.2% during the 1st quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company’s stock worth $1,320,000 after purchasing an additional 166,950 shares during the period. Finally, BlackRock Inc. purchased a new position in Exagen during the 2nd quarter worth $663,000. Institutional investors own 75.25% of the company’s stock.

Exagen Company Profile

Exagen Inc (NASDAQ: XGN) is a diagnostic healthcare company focused on autoimmune diseases. The company develops and commercializes blood tests designed to help physicians diagnose, differentiate and monitor conditions such as systemic lupus erythematosus, rheumatoid arthritis and other connective tissue diseases.

Exagen’s principal product family is AVISE, a suite of proprietary autoimmune testing services that includes AVISE CTD, AVISE Lupus and monitoring tests. These assays combine multiple biomarkers and are intended to provide physicians with information that may support earlier or more informed clinical decisions, particularly in rheumatology.

Exagen operates a specialized laboratory testing business serving healthcare providers primarily in the United States.