Key Points
- Major shareholder Jorey Chernett purchased 14,000 Exagen shares at an average price of $7.46, investing $104,440 and increasing his stake by 0.54% to 2.62 million shares.
- Exagen’s latest quarterly results beat expectations, with an adjusted loss of $0.13 per share versus the $0.19 consensus estimate and revenue of $19.94 million versus $17.80 million expected.
- Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $10.12, compared with the stock’s reported price of $7.41.
Exagen Inc. (NASDAQ:XGN - Get Free Report) major shareholder Jorey Chernett bought 14,000 shares of the firm's stock in a transaction that occurred on Monday, October 19th. The shares were purchased at an average cost of $7.46 per share, for a total transaction of $104,440.00. Following the purchase, the insider owned 2,618,540 shares in the company, valued at $19,534,308.40. This represents a 0.54% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Exagen Price Performance
Shares of Exagen stock opened at $7.41 on Wednesday. The business has a 50-day moving average of $7.77 and a 200 day moving average of $5.45. Exagen Inc. has a 12 month low of $2.59 and a 12 month high of $12.23. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.18 and a current ratio of 3.18.
Exagen (NASDAQ:XGN - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The company had revenue of $19.94 million during the quarter, compared to the consensus estimate of $17.80 million. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. Equities analysts anticipate that Exagen Inc. will post -0.69 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research analysts have recently commented on the stock. B. Riley Financial initiated coverage on shares of Exagen in a research note on Friday, September 11th. They issued a "buy" rating and a $12.00 price objective for the company. Canaccord Genuity Group upped their target price on shares of Exagen from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Monday. BTIG Research upped their target price on shares of Exagen from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Exagen in a report on Friday, August 7th. Finally, Roth Capital initiated coverage on shares of Exagen in a research report on Wednesday, June 24th. They issued a "buy" rating and a $8.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Exagen has an average rating of "Moderate Buy" and an average target price of $10.12.
Get Our Latest Research Report on Exagen
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd grew its stake in Exagen by 49.0% during the 1st quarter. R Squared Ltd now owns 27,107 shares of the company's stock worth $81,000 after purchasing an additional 8,915 shares in the last quarter. Corient Private Wealth LP purchased a new stake in Exagen during the 2nd quarter worth about $52,000. Penbrook Management LLC acquired a new stake in Exagen in the 3rd quarter valued at about $92,000. Bank of New York Mellon Corp acquired a new stake in Exagen in the 2nd quarter valued at about $97,000. Finally, Dimensional Fund Advisors LP raised its position in Exagen by 137.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 62,571 shares of the company's stock valued at $188,000 after purchasing an additional 36,213 shares in the last quarter. 75.25% of the stock is owned by institutional investors and hedge funds.
Exagen Company Profile
(
Get Free Report)
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.
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