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

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett sold 11,265 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $6.14, for a total value of $69,167.10. Following the completion of the sale, the insider owned 2,610,040 shares in the company, valued at approximately $16,025,645.60. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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 stock was bought 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 shares were purchased at an average cost 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 acquired at an average price of $7.46 per share, for a total transaction of $104,440.00.

Exagen Trading Down 25.9%

Shares of XGN opened at $5.26 on Wednesday. The business’s 50-day moving average price is $7.88 and its 200 day moving average price is $5.13. Exagen Inc. has a 1-year low of $2.59 and a 1-year 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) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company 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%. On average, analysts expect that Exagen Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on XGN shares. B. Riley Financial initiated coverage on shares of Exagen in a research report on Friday, September 11th. They set a “buy” rating and a $12.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Exagen in a research report on Wednesday, November 4th. BTIG Research increased their price target on Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. TD Cowen increased their target price on 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 increased their price objective on shares of Exagen from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.12.

Institutional Investors Weigh In On Exagen

A number of hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LP acquired a new position in Exagen during the 2nd quarter worth approximately $52,000. Penbrook Management LLC acquired a new position in shares of Exagen during the third quarter worth $92,000. Calamos Advisors LLC acquired a new position in shares of Exagen during the third quarter worth $94,000. Bank of New York Mellon Corp acquired a new stake in shares of Exagen during the 2nd quarter valued at $97,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Exagen during the 3rd quarter valued at $418,000. 75.25% of the stock is currently owned by institutional investors and hedge funds.

Key Exagen News

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.

About Exagen

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.