AxoGen (NASDAQ:AXGN) EVP Sells $3,195,450.00 in Stock

AxoGen, Inc. (NASDAQ:AXGN) EVP Marc Began sold 67,500 shares of AxoGen stock in a transaction on Monday, August 10th. The stock was sold at an average price of $47.34, for a total value of $3,195,450.00. Following the completion of the sale, the executive vice president directly owned 50,135 shares of the company’s stock, valued at $2,373,390.90. The trade was a 57.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Stock Performance

AxoGen stock traded up $1.19 during mid-day trading on Wednesday, reaching $49.67. 716,477 shares of the stock traded hands, compared to its average volume of 1,112,363. AxoGen, Inc. has a 12-month low of $13.64 and a 12-month high of $49.90. The business’s 50-day moving average is $43.01 and its 200-day moving average is $38.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04. The stock has a market capitalization of $2.67 billion, a PE ratio of -73.04 and a beta of 1.11.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of AxoGen in the second quarter worth approximately $204,123,000. Balyasny Asset Management L.P. increased its stake in shares of 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 worth $20,953,000 after purchasing an additional 1,250,968 shares in the last quarter. Wasatch Advisors LP raised 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 valued at $61,534,000 after purchasing an additional 933,778 shares during the period. Millennium Management LLC raised its position 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 valued at $31,793,000 after purchasing an additional 930,126 shares during the period. Finally, Next Century Growth Investors LLC purchased a new position in shares of AxoGen during the 4th quarter valued at $26,180,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AXGN has been the topic of a number of research reports. Raymond James Financial reissued an “outperform” rating and issued a $48.00 price objective on shares of AxoGen in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a report on Friday, May 29th. HC Wainwright increased their price target on shares of AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Finally, Citizens Jmp boosted their price objective on shares of AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.00.

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.