AxoGen (NASDAQ:AXGN) CEO Michael Dale Sells 61,463 Shares of Stock

AxoGen, Inc. (NASDAQ:AXGN) CEO Michael Dale sold 61,463 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total value of $1,918,260.23. Following the completion of the transaction, the chief executive officer owned 88,537 shares in the company, valued at approximately $2,763,239.77. The trade was a 40.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

AxoGen Stock Performance

NASDAQ:AXGN traded down $0.60 during trading hours on Wednesday, reaching $30.01. The stock had a trading volume of 679,926 shares, compared to its average volume of 854,756. The stock has a market cap of $1.38 billion, a P/E ratio of -600.20 and a beta of 1.06. The stock has a 50 day simple moving average of $22.57 and a 200 day simple moving average of $16.58. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.64 and a current ratio of 4.09. AxoGen, Inc. has a 12-month low of $9.22 and a 12-month high of $34.24.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $56.90 million. On average, research analysts forecast that AxoGen, Inc. will post -0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on AXGN. JMP Securities set a $34.00 target price on shares of AxoGen in a research note on Thursday, October 30th. Canaccord Genuity Group raised their price objective on shares of AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Lake Street Capital lifted their price objective on shares of AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Weiss Ratings restated a “sell (e+)” rating on shares of AxoGen in a research report on Monday. Finally, Mizuho started coverage on AxoGen in a report on Monday, December 1st. They issued an “outperform” rating and a $40.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, AxoGen has an average rating of “Moderate Buy” and an average target price of $35.56.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. First Light Asset Management LLC increased its holdings in shares of AxoGen by 28.2% in the third quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock worth $103,574,000 after purchasing an additional 1,276,487 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of AxoGen by 183.9% in the 2nd 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. Bessemer Group Inc. bought a new stake in shares of AxoGen during the 3rd quarter valued at about $14,468,000. Wasatch Advisors LP grew its holdings in shares of AxoGen by 85.1% during the second quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider’s stock worth $15,557,000 after purchasing an additional 659,149 shares in the last quarter. Finally, Brown Capital Management LLC bought a new position in shares of AxoGen in the third quarter worth approximately $11,500,000. 80.29% of the stock is owned by institutional investors.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.