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

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett purchased 14,000 shares of the business’s stock in a transaction dated Monday, October 19th. The shares were purchased at an average price of $7.46 per share, with a total value of $104,440.00. Following the acquisition, the insider directly owned 2,618,540 shares in the company, valued at approximately $19,534,308.40. The trade was a 0.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Exagen Stock Performance

XGN stock opened at $7.41 on Wednesday. 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 firm’s 50 day moving average price is $7.77 and its 200-day moving average price is $5.45. Exagen Inc. has a one year low of $2.59 and a one year high of $12.23.

Exagen (NASDAQ:XGN) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, equities research analysts forecast that Exagen Inc. will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Exagen

A number of hedge funds have recently made changes to their positions in XGN. GSA Capital Partners LLP purchased a new stake in Exagen in the second quarter valued at approximately $998,000. Flputnam Investment Management Co. acquired a new position in Exagen during the second quarter worth $1,343,000. Man Group plc acquired a new position in Exagen during the second quarter worth $778,000. BlackRock Inc. acquired a new position in Exagen during the second quarter worth $663,000. Finally, FourWorld Capital Management LLC boosted its position in shares of 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 buying an additional 166,950 shares during the period. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Analyst Ratings Changes

XGN has been the topic of several recent analyst reports. TD Cowen upped their price target on Exagen from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Exagen in a research report on Friday, August 7th. BTIG Research raised their price objective on Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. B. Riley Financial began coverage on shares of Exagen in a report on Friday, September 11th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Canaccord Genuity Group upped their target price on shares of Exagen from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday. One 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.12.

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.