AxoGen (NASDAQ:AXGN) Stock Price Down 5.6% – Should You Sell?

Shares of AxoGen, Inc. (NASDAQ:AXGN) were down 5.6% during trading on Friday. The stock traded as low as $38.22 and last traded at $37.6740. 644,094 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 1,115,692 shares. The stock had previously closed at $39.92.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AXGN. Jefferies Financial Group restated a “buy” rating and set a $55.00 price target on shares of AxoGen in a report on Wednesday, July 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of AxoGen in a research report on Wednesday, August 26th. Wall Street Zen downgraded AxoGen from a “buy” rating to a “hold” rating in a research note on Saturday, September 26th. Citizens Jmp upped their target price on AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a report on Thursday, July 30th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.33.

AxoGen Trading Down 4.7%

The firm’s 50-day simple moving average is $45.98 and its 200 day simple moving average is $41.73. The firm has a market cap of $2.05 billion, a P/E ratio of -55.87 and a beta of 1.17. The company has a quick ratio of 5.04, a current ratio of 6.60 and a debt-to-equity ratio of 0.07.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%.The firm had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. As a group, analysts expect that AxoGen, Inc. will post -0.44 earnings per share for the current year.

Insider Transactions at AxoGen

In related news, EVP Marc Began sold 67,500 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 50,135 shares in the company, valued at approximately $2,373,390.90. The trade was a 57.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Weiler sold 14,150 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $45.30, for a total transaction of $640,995.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 98,503 shares of company stock worth $4,656,947. Insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nykredit A S bought a new position in shares of AxoGen in the second quarter valued at approximately $30,000. MCF Advisors LLC bought a new stake in AxoGen during the 4th quarter worth approximately $30,000. KBC Group NV purchased a new stake in AxoGen in the 1st quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in AxoGen in the 4th quarter worth approximately $52,000. Finally, Canada Pension Plan Investment Board bought a new position in AxoGen in the 2nd quarter valued at $203,000. 80.29% of the stock is currently owned by institutional investors.

About AxoGen

AxoGen, Inc is a medical technology company focused on repairing and regenerating damaged peripheral nerves. The company develops and commercializes products for use by surgeons treating traumatic nerve injuries and other conditions in which nerve function has been compromised.

AxoGen’s product portfolio includes Avance Nerve Graft, a processed human nerve allograft designed to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient’s body. Its offerings also include Axoguard Nerve Connector and Axoguard Nerve Protector products, which are designed to support nerve repair and protect nerves during healing, as well as other products for peripheral nerve reconstruction.

Founded in 2002, AxoGen is headquartered in Alachua, Florida.