Jorey Chernett, a director and 10% owner of Exagen Inc. (NASDAQ: XGN), has been active on both sides of the market in the company's common stock, according to recent filings. The transactions, which unfolded over several days in November 2026, offer a window into insider activity at a company whose shares have experienced sharp swings.
On November 6, 2026, Chernett sold 11,265 shares for a total value of $69,167. The sales were executed at prices ranging from $5.86 to $6.18 per share. That sale was followed by a series of purchases. Between November 9 and November 10, 2026, Chernett bought a total of 15,585 shares of Exagen common stock for an aggregate value of $91,242, with prices ranging from $5.26 to $7.00 per share.
The reported transactions are considered matchable under Section 16(b) of the Securities Exchange Act of 1934, and Chernett intends to disgorge a calculated short-swing profit to Exagen. In addition, the amount of securities beneficially owned by Chernett was corrected from a previously filed report due to a clerical error, which had under-reported his holdings by 2,765 shares. Following these reported transactions, Chernett beneficially owns 2,625,625 shares of Exagen common stock.
The trading activity coincides with significant volatility in XGN shares. According to InvestingPro data, the stock has declined 38% over the past week, though it has gained 32% over six months. With a beta of 2.24, the stock exhibits more than double the volatility of the broader market. Exagen has a market capitalization of $172 million and remains unprofitable, with negative earnings per share of $0.80 over the last twelve months.
In other recent news, Exagen reported third-quarter revenue that increased to $18.4 million, slightly surpassing Wall Street's estimate of $18.34 million. This performance marks a 7% rise from the previous year and represents the best third quarter in the company's history. Exagen also maintained its full-year 2026 revenue guidance, projecting between $72 million and $75 million. The company highlighted improvements in pricing, margins, and cash flow discipline, with the average selling price per test reaching a record $451. Despite these positive developments, the market reaction was subdued. Analysts and investors may have been expecting a more significant surprise or clearer indications of future profitability. These recent developments underscore the company's ongoing efforts to enhance its financial performance.