Exagen (NASDAQ:XGN) Major Shareholder Sells $508,877.40 in Stock

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett sold 109,436 shares of the business’s stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $4.65, for a total value of $508,877.40. Following the completion of the sale, the insider directly owned 2,587,504 shares in the company, valued at $12,031,893.60. This represents a 4.06% decrease in their position. The transaction was disclosed in a filing 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.

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

• On Friday, November 13th, Jorey Chernett sold 58,068 shares of Exagen stock. The shares were sold at an average price of $4.08, for a total value of $236,917.44.
• On Wednesday, November 11th, Jorey Chernett acquired 71,315 shares of Exagen stock. The stock was purchased at an average price of $5.23 per share, with a total value of $372,977.45.
• 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 transaction of $69,167.10.
• 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 acquired 8,500 shares of Exagen stock. The stock was acquired at an average cost of $6.35 per share, for a total transaction of $53,975.00.
• On Monday, October 19th, Jorey Chernett acquired 14,000 shares of Exagen stock. The stock was acquired at an average cost of $7.46 per share, for a total transaction of $104,440.00.

Exagen Stock Performance

Shares of NASDAQ XGN traded down $0.28 during midday trading on Friday, reaching $4.13. The company’s stock had a trading volume of 3,356,140 shares, compared to its average volume of 581,895. The company has a quick ratio of 3.18, a current ratio of 3.46 and a debt-to-equity ratio of 1.73. The company has a 50 day moving average price of $7.71 and a 200 day moving average price of $5.13. Exagen Inc. has a one year low of $2.59 and a one year high of $9.28.

Exagen (NASDAQ:XGN) last issued 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). The business had revenue of $18.42 million for the quarter, compared to the consensus estimate of $18.34 million. Exagen had a negative return on equity of 125.60% and a negative net margin of 25.14%. Equities research analysts expect that Exagen Inc. will post -0.71 EPS for the current fiscal year.

Institutional Trading of Exagen

Large investors have recently added to or reduced their stakes in the company. FourWorld Capital Management LLC raised its position in Exagen by 61.2% during the first quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company’s stock valued at $1,320,000 after buying an additional 166,950 shares during the period. Flputnam Investment Management Co. purchased a new stake in Exagen in the 2nd quarter worth about $1,343,000. Sei Investments Co. boosted its position in Exagen by 107.0% during the 1st quarter. Sei Investments Co. now owns 244,240 shares of the company’s stock worth $733,000 after acquiring an additional 126,235 shares during the period. GSA Capital Partners LLP acquired a new stake in Exagen during the 2nd quarter worth about $998,000. Finally, Renaissance Technologies LLC boosted its position in Exagen by 47.3% during the 1st quarter. Renaissance Technologies LLC now owns 203,272 shares of the company’s stock worth $610,000 after acquiring an additional 65,272 shares during the period. 75.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group decreased their target price on Exagen from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Exagen in a research report on Wednesday, November 4th. B. Riley Financial began coverage on Exagen in a report on Friday, September 11th. They set a “buy” rating and a $12.00 target price for the company. BTIG Research reaffirmed a “buy” rating and set a $9.00 target price on shares of Exagen in a report on Wednesday. Finally, TD Cowen increased their price target on Exagen from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. One research 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.com, Exagen currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.88.

About Exagen

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.