Exagen (NASDAQ:XGN) Major Shareholder Jorey Chernett Acquires 7,085 Shares of Stock

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett bought 7,085 shares of Exagen stock in a transaction on 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 completion of the acquisition, the insider owned 2,625,625 shares of the company’s stock, valued at approximately $13,810,787.50. This represents a 0.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more 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 6th, Jorey Chernett sold 11,265 shares of Exagen stock. The shares were sold at an average price of $6.14, for a total value of $69,167.10.
• On Monday, November 9th, Jorey Chernett purchased 8,500 shares of Exagen stock. The stock was acquired at an average price of $6.35 per share, with a total value of $53,975.00.
• On Monday, October 19th, Jorey Chernett purchased 14,000 shares of Exagen stock. The shares were acquired at an average cost of $7.46 per share, for a total transaction of $104,440.00.

Exagen Stock Performance

NASDAQ:XGN opened at $5.26 on Wednesday. Exagen Inc. has a fifty-two week low of $2.59 and a fifty-two week high of $9.73. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 1.96. The business’s 50-day simple moving average is $7.88 and its 200-day simple moving average is $5.13.

Exagen (NASDAQ:XGN) last posted its earnings results on Tuesday, November 10th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. The business had revenue of $18.42 million for the quarter, compared to the consensus estimate of $18.34 million. Research analysts anticipate that Exagen Inc. will post -0.69 earnings per share for the current fiscal year.

Exagen News Summary

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.

Wall Street Analysts Forecast Growth

XGN has been the subject of a number of research analyst reports. B. Riley Financial assumed coverage on shares of Exagen in a research note on Friday, September 11th. They issued a “buy” rating and a $12.00 target price for the company. TD Cowen boosted their price target on Exagen from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Exagen in a research report on Wednesday, November 4th. BTIG Research increased their price objective on Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group lifted their target price on Exagen from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, October 19th. One equities research 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.12.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. FourWorld Capital Management LLC increased its stake in Exagen by 61.2% in the 1st 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 last quarter. Flputnam Investment Management Co. acquired a new position in shares of Exagen during the 2nd quarter worth about $1,343,000. Sei Investments Co. grew its holdings in shares of Exagen by 107.0% in the 1st quarter. Sei Investments Co. now owns 244,240 shares of the company’s stock valued at $733,000 after acquiring an additional 126,235 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Exagen in the 2nd quarter valued at about $998,000. Finally, Renaissance Technologies LLC increased its position in shares of Exagen by 47.3% in the first quarter. Renaissance Technologies LLC now owns 203,272 shares of the company’s stock valued at $610,000 after acquiring an additional 65,272 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.

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.