AxoGen (NASDAQ:AXGN) Insider Sells $609,125.57 in Stock

AxoGen, Inc. (NASDAQ:AXGN) insider Erick Wayne Devinney sold 19,517 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $31.21, for a total transaction of $609,125.57. Following the sale, the insider directly owned 241,132 shares in the company, valued at $7,525,729.72. This represents a 7.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Erick Wayne Devinney also recently made the following trade(s):

• On Tuesday, September 16th, Erick Wayne Devinney sold 1,137 shares of AxoGen stock. The shares were sold at an average price of $16.29, for a total value of $18,521.73.

AxoGen Price Performance

Shares of AxoGen stock traded down $0.60 during trading on Wednesday, reaching $30.01. The company’s stock had a trading volume of 679,926 shares, compared to its average volume of 854,756. AxoGen, Inc. has a one year low of $9.22 and a one year high of $34.24. The stock has a 50-day moving average price of $22.57 and a two-hundred day moving average price of $16.58. The company has a current ratio of 4.09, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $1.38 billion, a P/E ratio of -600.20 and a beta of 1.06.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.90%. The firm had revenue of $60.08 million during the quarter, compared to analysts’ expectations of $56.90 million. As a group, sell-side analysts anticipate that AxoGen, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AXGN has been the subject of several research reports. Lake Street Capital lifted their target price on AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Mizuho started coverage on shares of AxoGen in a research note on Monday, December 1st. They issued an “outperform” rating and a $40.00 target price for the company. Citizens Jmp boosted their target price on AxoGen from $26.00 to $34.00 and gave the company a “market outperform” rating in a research note on Thursday, October 30th. Citigroup restated a “market outperform” rating on shares of AxoGen in a report on Thursday, October 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of AxoGen in a research report on Monday. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, AxoGen presently has a consensus rating of “Moderate Buy” and an average target price of $35.56.

Institutional Investors Weigh In On AxoGen

A number of large investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC acquired a new stake in AxoGen in the 3rd quarter worth about $27,000. Aquatic Capital Management LLC grew its position in shares of AxoGen by 287.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 1,269 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of AxoGen in the third quarter valued at approximately $43,000. AdvisorNet Financial Inc boosted its stake in shares of AxoGen by 500.0% in the third quarter. AdvisorNet Financial Inc now owns 4,800 shares of the medical equipment provider’s stock valued at $86,000 after buying an additional 4,000 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in AxoGen by 189.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider’s stock worth $55,000 after buying an additional 3,327 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.