Exagen (NASDAQ:XGN) Major Shareholder Jorey Chernett Buys 14,000 Shares of Stock

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

Exagen Stock Performance

Shares of XGN stock opened at $7.43 on Tuesday. Exagen Inc. has a 12-month low of $2.59 and a 12-month high of $12.23. The firm has a market capitalization of $180.03 million, a price-to-earnings ratio of -9.17 and a beta of 2.12. The business has a 50 day simple moving average of $7.76 and a 200 day simple moving average of $5.41. 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) last posted its earnings results on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm had revenue of $19.94 million for the quarter, compared to analysts’ expectations of $17.80 million. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. On average, equities research analysts anticipate that Exagen Inc. will post -0.69 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on XGN. Roth Capital began coverage on Exagen in a report on Wednesday, June 24th. They set a “buy” rating and a $8.00 price target on the stock. Canaccord Genuity Group upped their price objective on shares of Exagen from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Exagen in a report on Friday, August 7th. 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 target price for the company. Finally, BTIG Research raised their target price on shares of Exagen from $8.00 to $9.00 and gave the company 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 issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.12.

Institutional Investors Weigh In On Exagen

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in shares of Exagen in the second quarter valued at $998,000. Flputnam Investment Management Co. bought a new position in Exagen during the second quarter valued at about $1,343,000. Man Group plc bought a new position in Exagen during the second quarter valued at about $778,000. FourWorld Capital Management LLC grew its holdings 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 acquiring an additional 166,950 shares during the period. Finally, BlackRock Inc. acquired a new position in Exagen during the second quarter worth about $663,000. 75.25% of the stock is currently owned by institutional investors and hedge funds.

About Exagen

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.