AxoGen (NASDAQ:AXGN) EVP Sells $289,566.38 in Stock

AxoGen, Inc. (NASDAQ:AXGN) EVP Marc Began sold 9,278 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $31.21, for a total value of $289,566.38. Following the transaction, the executive vice president directly owned 31,507 shares in the company, valued at approximately $983,333.47. This represents a 22.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

AxoGen Stock Up 1.4%

NASDAQ AXGN opened at $30.39 on Friday. The stock has a market capitalization of $1.40 billion, a P/E ratio of -607.80 and a beta of 1.06. AxoGen, Inc. has a 52 week low of $9.22 and a 52 week high of $34.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.64 and a current ratio of 4.09. The stock has a fifty day moving average of $23.30 and a 200-day moving average of $16.90.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AXGN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research note on Monday. Raymond James Financial restated an “outperform” rating and issued a $36.00 price objective on shares of AxoGen in a report on Thursday, December 4th. Citizens Jmp raised their price objective on shares of AxoGen from $26.00 to $34.00 and gave the company a “market outperform” rating in a research note on Thursday, October 30th. Lake Street Capital lifted their target price on shares of AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Finally, Mizuho assumed coverage on shares of AxoGen in a research report on Monday, December 1st. They set an “outperform” rating and a $40.00 target price for the company. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, AxoGen presently has an average rating of “Moderate Buy” and an average target price of $35.56.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. First Light Asset Management LLC increased its stake in AxoGen by 28.2% in the third quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock valued at $103,574,000 after purchasing an additional 1,276,487 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of AxoGen by 4.6% during the first quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider’s stock worth $46,964,000 after purchasing an additional 112,679 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of AxoGen by 20.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,958,406 shares of the medical equipment provider’s stock valued at $34,938,000 after buying an additional 332,498 shares during the period. Balyasny Asset Management L.P. increased its position in shares of AxoGen by 183.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after buying an additional 1,250,968 shares in the last quarter. Finally, Wasatch Advisors LP increased its position in shares of AxoGen by 14.3% in the 3rd quarter. Wasatch Advisors LP now owns 1,639,351 shares of the medical equipment provider’s stock valued at $29,246,000 after buying an additional 205,569 shares in the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Company Profile

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.