AxoGen (NASDAQ:AXGN) Trading Down 4.4% – Time to Sell?

Shares of AxoGen, Inc. (NASDAQ:AXGN) fell 4.4% during mid-day trading on Monday . The stock traded as low as $33.13 and last traded at $32.94. 364,612 shares were traded during trading, a decline of 62% from the average session volume of 969,853 shares. The stock had previously closed at $34.44.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AXGN. Weiss Ratings reissued a “sell (e+)” rating on shares of AxoGen in a report on Monday, December 29th. Wells Fargo & Company began coverage on shares of AxoGen in a report on Thursday, February 19th. They set an “overweight” rating and a $40.00 price target for the company. Wall Street Zen downgraded shares of AxoGen from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Citizens Jmp lifted their price target on shares of AxoGen from $34.00 to $42.00 and gave the company a “market outperform” rating in a report on Tuesday, February 24th. Finally, Citigroup reissued an “outperform” rating on shares of AxoGen in a report on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.75.

AxoGen Stock Performance

The company has a market capitalization of $1.72 billion, a P/E ratio of -97.55 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.11 and a quick ratio of 3.31. The stock’s 50 day simple moving average is $32.69 and its two-hundred day simple moving average is $28.19.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%.The company had revenue of $59.90 million during the quarter, compared to the consensus estimate of $59.90 million. As a group, research analysts expect that AxoGen, Inc. will post -0.29 earnings per share for the current year.

Insider Buying and Selling at AxoGen

In other AxoGen news, insider Erick Wayne Devinney sold 5,221 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $32.84, for a total value of $171,457.64. Following the completion of the transaction, the insider directly owned 262,781 shares of the company’s stock, valued at approximately $8,629,728.04. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.78% of the company’s stock.

Hedge Funds Weigh In On AxoGen

Institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new stake in shares of AxoGen during the 3rd quarter worth approximately $27,000. MCF Advisors LLC acquired a new stake in shares of AxoGen during the 4th quarter worth approximately $30,000. Aquatic Capital Management LLC grew its position 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 worth $31,000 after buying an additional 1,269 shares during the period. Arax Advisory Partners grew its position 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 worth $34,000 after buying an additional 819 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of AxoGen during the 4th quarter worth approximately $36,000. 80.29% of the stock is owned by institutional investors.

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.