AxoGen (NASDAQ:AXGN) Director Sells $1,280,378.04 in Stock

AxoGen, Inc. (NASDAQ:AXGN) Director Amy Mcbride Wendell sold 43,684 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $29.31, for a total value of $1,280,378.04. Following the completion of the sale, the director directly owned 93,826 shares in the company, valued at approximately $2,750,040.06. This represents a 31.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AxoGen Stock Performance

Shares of NASDAQ AXGN traded up $2.04 during trading hours on Wednesday, hitting $31.39. 1,363,957 shares of the company’s stock were exchanged, compared to its average volume of 855,567. AxoGen, Inc. has a 1-year low of $9.22 and a 1-year high of $34.24. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -627.80 and a beta of 1.06. The company’s 50-day moving average price is $23.80 and its 200-day moving average price is $17.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, beating 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 analysts’ expectations of $56.90 million. On average, sell-side analysts expect that AxoGen, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. First Light Asset Management LLC boosted its holdings in AxoGen by 28.2% during the third quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock valued at $103,574,000 after purchasing an additional 1,276,487 shares in the last quarter. 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 period. ArrowMark Colorado Holdings LLC lifted its position in shares of AxoGen by 20.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,958,406 shares of the medical equipment provider’s stock worth $34,938,000 after buying an additional 332,498 shares during the period. Balyasny Asset Management L.P. boosted its stake in 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 buying an additional 1,250,968 shares in the last quarter. Finally, Wasatch Advisors LP grew its position in AxoGen by 14.3% in the third quarter. Wasatch Advisors LP now owns 1,639,351 shares of the medical equipment provider’s stock valued at $29,246,000 after acquiring an additional 205,569 shares during the period. Institutional investors and hedge funds own 80.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AXGN. Citigroup restated a “market outperform” rating on shares of AxoGen in a research report on Thursday, October 30th. Jefferies Financial Group lifted their target price on AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. JMP Securities set a $34.00 price target on AxoGen in a research note on Thursday, October 30th. Mizuho started coverage on AxoGen in a research report on Monday, December 1st. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Raymond James Financial reissued an “outperform” rating and set a $36.00 price objective on shares of AxoGen in a report on Thursday, December 4th. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $35.56.

About AxoGen

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.