AxoGen (NASDAQ:AXGN) Shares Down 3% – Here’s What Happened

by · The Cerbat Gem

AxoGen, Inc. (NASDAQ:AXGNGet Free Report) shares dropped 3% during mid-day trading on Wednesday . The company traded as low as $32.25 and last traded at $31.8660. Approximately 359,421 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 850,580 shares. The stock had previously closed at $32.84.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $36.00 target price on shares of AxoGen in a report on Thursday, December 4th. HC Wainwright lifted their price target on shares of AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Jefferies Financial Group increased their price objective on AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Citizens Jmp raised their target price on AxoGen from $26.00 to $34.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 30th. Finally, JMP Securities set a $34.00 price target on AxoGen in a research note on Thursday, October 30th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.56.

Get Our Latest Report on AxoGen

AxoGen Price Performance

The company has a 50 day moving average of $25.39 and a 200 day moving average of $17.99. 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 market capitalization of $1.47 billion, a price-to-earnings ratio of -637.32 and a beta of 1.06.

AxoGen (NASDAQ:AXGNGet Free Report) 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 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 company had revenue of $60.08 million for the quarter, compared to analyst estimates of $56.90 million. As a group, equities research analysts anticipate that AxoGen, Inc. will post -0.29 EPS for the current year.

Insider Activity at AxoGen

In other news, Director Kathy Johnson Weiler sold 46,653 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $29.55, for a total value of $1,378,596.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William P. Mr. Burke sold 40,235 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $20.55, for a total transaction of $826,829.25. Following the transaction, the director owned 100 shares of the company’s stock, valued at approximately $2,055. The trade was a 99.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 434,143 shares of company stock worth $11,995,476 over the last ninety days. 2.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AXGN. Vanguard Group Inc. lifted its position in shares of AxoGen by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider’s stock worth $46,964,000 after buying an additional 112,679 shares during the last quarter. Invesco Ltd. raised its stake in AxoGen by 2,124.5% during the 1st quarter. Invesco Ltd. now owns 382,429 shares of the medical equipment provider’s stock worth $7,075,000 after acquiring an additional 365,237 shares in the last quarter. Nuveen LLC acquired a new stake in AxoGen during the 1st quarter worth $5,668,000. Quantbot Technologies LP purchased a new stake in AxoGen in the first quarter valued at $632,000. Finally, Hsbc Holdings PLC boosted its stake in AxoGen by 6.5% in the first quarter. Hsbc Holdings PLC now owns 24,174 shares of the medical equipment provider’s stock valued at $432,000 after acquiring an additional 1,468 shares in the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

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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