AxoGen (NASDAQ:AXGN) Director Sells $633,624.39 in Stock

AxoGen, Inc. (NASDAQ:AXGN) Director Paul Thomas sold 21,399 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $29.61, for a total value of $633,624.39. Following the sale, the director owned 13,528 shares in the company, valued at approximately $400,564.08. The trade was a 61.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

AxoGen Stock Performance

Shares of NASDAQ:AXGN traded down $0.60 during trading on Wednesday, hitting $30.01. The stock had a trading volume of 679,926 shares, compared to its average volume of 854,756. The company has a quick ratio of 2.64, a current ratio of 4.09 and a debt-to-equity ratio of 0.54. AxoGen, Inc. has a 12-month low of $9.22 and a 12-month high of $34.24. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -600.20 and a beta of 1.06. The stock has a 50-day simple moving average of $22.57 and a two-hundred day simple moving average of $16.58.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. AxoGen had a negative return on equity of 1.90% and a negative net margin of 0.98%.The firm had revenue of $60.08 million for the quarter, compared to analyst estimates of $56.90 million. On average, equities research analysts expect that AxoGen, Inc. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of AxoGen in a report on Monday. HC Wainwright boosted their price target on AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a report on Friday, December 5th. Lake Street Capital upped their price objective on AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Canaccord Genuity Group raised their price objective on shares of AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Finally, JMP Securities set a $34.00 target price on shares of AxoGen in a research note on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.56.

Institutional Trading of AxoGen

A number of institutional investors have recently made changes to their positions in AXGN. Vanguard Group Inc. raised its stake in AxoGen by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider’s stock valued at $46,964,000 after purchasing an additional 112,679 shares during the last quarter. Swiss National Bank purchased a new stake in shares of AxoGen during the first quarter worth $1,498,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of AxoGen by 17.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 339,711 shares of the medical equipment provider’s stock worth $6,285,000 after buying an additional 50,966 shares in the last quarter. Invesco Ltd. raised its position in shares of AxoGen by 2,124.5% in the first quarter. Invesco Ltd. now owns 382,429 shares of the medical equipment provider’s stock valued at $7,075,000 after buying an additional 365,237 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of AxoGen in the first quarter worth about $5,668,000. 80.29% of the stock is owned by institutional investors and hedge funds.

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.