Key Points
- Major shareholder Jorey Chernett bought 71,315 Exagen shares at an average $5.23 each, spending about $373,000. The purchase increased his position by 2.72% to 2,696,940 shares.
- Exagen reported quarterly loss of $0.25 per share, worse than analysts’ $0.18 loss estimate, while revenue of $18.42 million slightly topped expectations.
- Analysts’ overall rating is “Moderate Buy,” with an average price target of $9.88; recent targets include $9 from BTIG and $11 from TD Cowen.
Exagen Inc. (NASDAQ:XGN - Get Free Report) major shareholder Jorey Chernett bought 71,315 shares of the company's stock in a transaction that occurred on Wednesday, November 11th. The stock was acquired at an average price of $5.23 per share, with a total value of $372,977.45. Following the completion of the purchase, the insider directly owned 2,696,940 shares of the company's stock, valued at approximately $14,104,996.20. The trade was a 2.72% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company's shares 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 value of $69,167.10.
- On Tuesday, November 10th, Jorey Chernett bought 7,085 shares of Exagen stock. The shares were acquired at an average price of $5.26 per share, for a total transaction of $37,267.10.
- On Monday, November 9th, Jorey Chernett purchased 8,500 shares of Exagen stock. The stock was acquired at an average cost of $6.35 per share, for a total transaction of $53,975.00.
- On Monday, October 19th, Jorey Chernett purchased 14,000 shares of Exagen stock. The stock was acquired at an average cost of $7.46 per share, for a total transaction of $104,440.00.
Exagen Stock Performance
XGN opened at $4.41 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 3.18 and a current ratio of 3.46. The business has a 50-day moving average of $7.78 and a two-hundred day moving average of $5.13. Exagen Inc. has a 12 month low of $2.59 and a 12 month high of $9.73.
Exagen (NASDAQ:XGN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 10th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.07). The company had revenue of $18.42 million for the quarter, compared to analyst estimates of $18.34 million. Exagen had a negative net margin of 25.14% and a negative return on equity of 125.60%. Sell-side analysts anticipate that Exagen Inc. will post -0.69 EPS for the current fiscal year.
Hedge Funds Weigh In On Exagen
Several hedge funds and other institutional investors have recently modified their holdings of XGN. Flputnam Investment Management Co. purchased a new stake in shares of Exagen during the 2nd quarter worth about $1,343,000. GSA Capital Partners LLP acquired a new stake in Exagen during the 2nd quarter worth approximately $998,000. Man Group plc acquired a new stake in Exagen during the 2nd quarter worth approximately $778,000. FourWorld Capital Management LLC raised its holdings in Exagen by 61.2% in the first 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 period. Finally, BlackRock Inc. purchased a new position in Exagen in the second quarter valued at approximately $663,000. 75.25% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
XGN has been the subject of a number of recent analyst reports. BTIG Research restated a "buy" rating and issued a $9.00 target price on shares of Exagen in a report on Wednesday. B. Riley Financial started coverage on shares of Exagen in a research note on Friday, September 11th. They set a "buy" rating and a $12.00 price target on the stock. TD Cowen increased their price target on shares of Exagen from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, October 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Exagen in a report on Wednesday, November 4th. Finally, Canaccord Genuity Group lowered their price objective on shares of Exagen from $11.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday. One 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. Based on data from MarketBeat, Exagen presently has a consensus rating of "Moderate Buy" and an average price target of $9.88.
Check Out Our Latest Research Report on XGN
About Exagen
(
Get Free Report)
Exagen Inc. is a diagnostics company focused on testing for autoimmune and rheumatic diseases. It develops and provides blood tests intended to help physicians assess and monitor conditions such as systemic lupus erythematosus and other connective tissue diseases. The company's AVISE test portfolio includes diagnostic and monitoring tests that use proprietary biomarkers to support clinical evaluation. Its offerings are designed to provide information that may help clinicians distinguish among autoimmune conditions and guide patient care.
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