Exagen (NASDAQ:XGN) Share Price Crosses Below Two Hundred Day Moving Average on Disappointing Earnings

Exagen Inc. (NASDAQ:XGN)’s stock price passed below its 200-day moving average during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock has a 200-day moving average of $5.13 and traded as low as $4.69. Exagen shares last traded at $5.03, with a volume of 1,204,145 shares trading hands.

The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Exagen had a negative net margin of 25.14% and a negative return on equity of 123.63%. The firm had revenue of $18.42 million during the quarter, compared to the consensus estimate of $18.34 million.

Key Exagen News

These are some of the XGN news items that stood out recently:

• Positive Sentiment: Q3 revenue increased 7% year over year to $18.4 million, slightly ahead of estimates. For the first nine months, revenue rose 11%, net loss narrowed 12%, and adjusted EBITDA loss improved by more than 30%. Exagen Q3 results
• Positive Sentiment: Exagen reiterated its 2026 revenue outlook of $72 million to $75 million and remains on track to launch its myositis offering in early 2027. A major shareholder’s recent purchases also exceeded his reported sale in the cited transactions, a modest supportive signal. Insider transaction report
• Neutral Sentiment: BTIG reaffirmed its Buy rating and $9 target. Canaccord also kept a Buy rating but cut its target from $11 to $9, tempering the positive analyst outlook. Canaccord analyst rating

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. B. Riley Financial initiated coverage on Exagen in a research report on Friday, September 11th. They set a “buy” rating and a $12.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Exagen in a research note on Wednesday, November 4th. BTIG Research reiterated a “buy” rating and set a $9.00 price objective on shares of Exagen in a report on Wednesday. Canaccord Genuity Group cut their price objective on shares of Exagen from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, TD Cowen raised their target price on shares of Exagen from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. One 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.88.

Insider Activity

In related news, major shareholder Jorey Chernett bought 7,085 shares of the business’s stock in a transaction dated Tuesday, November 10th. The shares were acquired at an average price of $5.26 per share, for a total transaction of $37,267.10. Following the purchase, the insider owned 2,625,625 shares in the company, valued at $13,810,787.50. This trade represents a 0.27% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John Aballi sold 34,294 shares of Exagen stock in a transaction on Friday, October 16th. The stock was sold at an average price of $7.87, for a total transaction of $269,893.78. Following the transaction, the chief executive officer owned 805,540 shares in the company, valued at approximately $6,339,599.80. This trade represents a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders purchased 29,585 shares of company stock worth $195,682 over the last ninety days. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exagen

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

Exagen Stock Performance

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 company has a fifty day moving average price of $7.84 and a 200 day moving average price of $5.13. The stock has a market cap of $121.88 million, a PE ratio of -6.71 and a beta of 2.25.

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.