Insider Buying: Exagen (NASDAQ:XGN) Major Shareholder Buys $37,267.10 in Stock

Exagen Inc. (NASDAQ:XGN) major shareholder Jorey Chernett acquired 7,085 shares of the stock in a transaction on Tuesday, November 10th. The shares were bought at an average price of $5.26 per share, with a total value of $37,267.10. Following the purchase, the insider directly owned 2,625,625 shares of the company’s stock, valued at $13,810,787.50. The trade was a 0.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% 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 stock was sold at an average price of $6.14, for a total transaction of $69,167.10.
• On Monday, November 9th, Jorey Chernett acquired 8,500 shares of Exagen stock. The shares were purchased at an average cost of $6.35 per share, for a total transaction of $53,975.00.
• On Monday, October 19th, Jorey Chernett acquired 14,000 shares of Exagen stock. The shares were purchased at an average cost of $7.46 per share, for a total transaction of $104,440.00.

Exagen Price Performance

NASDAQ:XGN traded down $1.84 on Tuesday, reaching $5.26. 2,191,440 shares of the stock traded hands, compared to its average volume of 415,796. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 1.96. Exagen Inc. has a 12 month low of $2.59 and a 12 month high of $9.73. The company’s fifty day simple moving average is $7.88 and its 200 day simple moving average is $5.13.

Exagen (NASDAQ:XGN) last issued its earnings results on Tuesday, November 10th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $18.42 million during the quarter, compared to the consensus estimate of $18.34 million. As a group, research analysts expect that Exagen Inc. will post -0.69 EPS for the current fiscal year.

Key Headlines Impacting Exagen

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.

Institutional Investors Weigh In On Exagen

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new position in Exagen during the second quarter valued at $998,000. Flputnam Investment Management Co. purchased a new stake in Exagen in the second quarter worth about $1,343,000. Man Group plc purchased a new stake in Exagen in the second quarter worth about $778,000. BlackRock Inc. bought a new position in shares of Exagen in the second quarter worth about $663,000. Finally, FourWorld Capital Management LLC raised its stake in shares of Exagen by 61.2% in 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. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on XGN. Canaccord Genuity Group upped their price objective on Exagen from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, October 19th. TD Cowen lifted their target price on Exagen from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Exagen in a research note on Wednesday, November 4th. B. Riley Financial began coverage on Exagen in a research note on Friday, September 11th. They issued a “buy” rating and a $12.00 price target for the company. Finally, BTIG Research upped their price target on Exagen from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.12.

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.