AxoGen (NASDAQ:AXGN) Director Sells 13,353 Shares of Stock

by · The Markets Daily

AxoGen, Inc. (NASDAQ:AXGN – Get Free Report) Director Amy Mcbride Wendell sold 13,353 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total transaction of $646,552.26. Following the completion of the transaction, the director directly owned 107,976 shares of the company’s stock, valued at approximately $5,228,197.92. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Price Performance

NASDAQ AXGN traded up $1.19 during trading hours on Wednesday, hitting $49.67. The company had a trading volume of 716,477 shares, compared to its average volume of 1,112,363. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -73.04 and a beta of 1.11. AxoGen, Inc. has a 52 week low of $13.64 and a 52 week high of $49.90. The firm has a 50 day simple moving average of $43.01 and a 200 day simple moving average of $38.14.

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

Wall Street Analysts Forecast Growth

AXGN has been the topic of several recent research reports. Truist Financial set a $55.00 target price on shares of AxoGen in a report on Thursday, July 30th. Canaccord Genuity Group upped their price target on shares of AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Zacks Research raised AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a report on Friday, May 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 price objective on shares of AxoGen in a report on Wednesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.00.

View Our Latest Report on AxoGen

Institutional Investors Weigh In On AxoGen

Large investors have recently made changes to their positions in the business. First Light Asset Management LLC increased its stake in shares of AxoGen by 1.2% during the second quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock valued at $49,142,000 after buying an additional 55,028 shares during the period. BlackRock Inc. purchased a new stake in AxoGen in the second quarter worth $204,123,000. Vanguard Group Inc. lifted its stake in AxoGen by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock worth $93,934,000 after acquiring an additional 190,557 shares during the period. Morgan Stanley boosted its holdings in AxoGen by 6.5% in the fourth quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock valued at $84,668,000 after acquiring an additional 157,029 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted 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 in the last quarter. 80.29% of the stock is currently owned by institutional investors.

About AxoGen

(Get Free Report)

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.

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