Kathy Johnson Weiler Sells 14,150 Shares of AxoGen (NASDAQ:AXGN) Stock

AxoGen, Inc. (NASDAQ:AXGN) Director Kathy Johnson Weiler sold 14,150 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $45.30, for a total transaction of $640,995.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Stock Performance

AXGN stock traded up $0.26 on Tuesday, hitting $48.48. The company’s stock had a trading volume of 576,927 shares, compared to its average volume of 1,114,968. The firm has a 50 day moving average of $42.83 and a two-hundred day moving average of $38.03. AxoGen, Inc. has a 1 year low of $13.64 and a 1 year high of $49.12. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -71.29 and a beta of 1.11. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $69.73 million during the quarter, compared to analysts’ expectations of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. Equities analysts predict that AxoGen, Inc. will post -0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citizens Jmp upped their price objective on AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Raymond James Financial reiterated an “outperform” rating and issued a $48.00 target price on shares of AxoGen in a research note on Wednesday, April 29th. Truist Financial set a $55.00 target price on AxoGen in a report on Thursday, July 30th. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a report on Thursday, July 30th. Finally, HC Wainwright raised their target price on shares of AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, AxoGen currently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Institutional Trading of AxoGen

Institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in AxoGen during the second quarter worth $204,123,000. Balyasny Asset Management L.P. lifted its holdings in AxoGen by 183.9% in the second 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 acquiring an additional 1,250,968 shares during the period. Wasatch Advisors LP boosted its position in shares of AxoGen by 101.1% during the 1st quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock worth $61,534,000 after purchasing an additional 933,778 shares in the last quarter. Millennium Management LLC grew its stake in shares of AxoGen by 2,255.8% during the 4th quarter. Millennium Management LLC now owns 971,358 shares of the medical equipment provider’s stock worth $31,793,000 after purchasing an additional 930,126 shares during the period. Finally, Next Century Growth Investors LLC acquired a new position in shares of AxoGen during the 4th quarter worth $26,180,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Company Profile

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.