Exagen (NASDAQ:XGN) Stock: Insider Jorey Chernett Acquires 8,500 Shares

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett bought 8,500 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was acquired at an average cost of $6.35 per share, for a total transaction of $53,975.00. Following the purchase, the insider owned 2,618,540 shares of the company’s stock, valued at $16,627,729. This trade represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 stock was sold at an average price of $6.14, for a total transaction of $69,167.10.
• On Tuesday, November 10th, Jorey Chernett purchased 7,085 shares of Exagen stock. The stock was acquired at an average cost of $5.26 per share, with a total value of $37,267.10.
• On Monday, October 19th, Jorey Chernett acquired 14,000 shares of Exagen stock. The stock was bought at an average price of $7.46 per share, for a total transaction of $104,440.00.

Exagen Price Performance

Shares of XGN traded down $1.84 during mid-day trading on Tuesday, reaching $5.26. The company had a trading volume of 2,191,440 shares, compared to its average volume of 415,796. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 1.96. Exagen Inc. has a twelve month low of $2.59 and a twelve month high of $9.73. The company’s 50-day moving average is $7.88 and its 200-day moving average is $5.13.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Tuesday, November 10th. The company reported ($0.25) EPS 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, research analysts anticipate that Exagen Inc. will post -0.69 EPS for the current fiscal year.

Exagen News Roundup

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 Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Exagen in a report on Wednesday, November 4th. Canaccord Genuity Group boosted their target price on shares of Exagen from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, October 19th. TD Cowen upped their target price on shares of Exagen from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. BTIG Research increased their target price on shares of Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, B. Riley Financial initiated coverage on shares of Exagen in a report on Friday, September 11th. They set a “buy” rating and a $12.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Exagen has an average rating of “Moderate Buy” and an average price target of $10.12.

Institutional Investors Weigh In On Exagen

A number of large investors have recently bought and sold shares of XGN. Russell Investments Group Ltd. acquired a new stake in Exagen during the 3rd quarter valued at $418,000. Calamos Advisors LLC bought a new position in Exagen in the 3rd quarter valued at $94,000. Penbrook Management LLC acquired a new position in Exagen in the third quarter worth $92,000. Flputnam Investment Management Co. acquired a new position in Exagen in the second quarter worth $1,343,000. Finally, Corient Private Wealth LP acquired a new position in Exagen in the second quarter worth $52,000. 75.25% of the stock is currently owned by institutional investors.

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.