AxoGen (NASDAQ:AXGN) Shares Cross Above 200 Day Moving Average – Time to Sell?

AxoGen, Inc. (NASDAQ:AXGN) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.96 and traded as high as $34.19. AxoGen shares last traded at $33.23, with a volume of 562,500 shares trading hands.

Wall Street Analyst Weigh In

AXGN has been the topic of a number of analyst reports. Lake Street Capital increased their price target on AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Wall Street Zen upgraded AxoGen from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Jefferies Financial Group raised their price target on AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. HC Wainwright boosted their price target on AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Finally, Canaccord Genuity Group increased 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. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.56.

AxoGen Price Performance

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 company has a market cap of $1.53 billion, a price-to-earnings ratio of -664.60 and a beta of 1.00. The business has a fifty day moving average price of $32.53 and a 200 day moving average price of $23.96.

Insider Transactions at AxoGen

In other news, CEO Michael D. Dale sold 61,463 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total value of $1,918,260.23. Following the sale, the chief executive officer directly owned 88,537 shares in the company, valued at approximately $2,763,239.77. This trade represents a 40.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Johnson sold 23,693 shares of AxoGen stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $31.24, for a total transaction of $740,169.32. Following the sale, the director directly owned 13,141 shares in the company, valued at $410,524.84. This trade represents a 64.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 301,680 shares of company stock valued at $9,174,052. Company insiders own 2.78% of the company’s stock.

Institutional Trading of AxoGen

A number of hedge funds have recently added to or reduced their stakes in AXGN. Future Financial Wealth Managment LLC bought a new stake in shares of AxoGen during the third quarter worth $27,000. MCF Advisors LLC bought a new position in shares of AxoGen in the 4th quarter valued at $30,000. Aquatic Capital Management LLC boosted its holdings 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 valued at $31,000 after acquiring an additional 1,269 shares in the last quarter. Arax Advisory Partners boosted its holdings in shares of AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 819 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in AxoGen during the 4th quarter worth $36,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

About AxoGen

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.