Insider Selling: AxoGen (NASDAQ:AXGN) EVP Sells 9,278 Shares of Stock

AxoGen, Inc. (NASDAQ:AXGN) EVP Marc Began sold 9,278 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $31.21, for a total transaction of $289,566.38. Following the completion of the sale, the executive vice president directly owned 31,507 shares in the company, valued at approximately $983,333.47. This trade represents a 22.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

AxoGen Stock Performance

AxoGen stock traded down $0.60 during midday trading on Wednesday, reaching $30.01. 679,926 shares of the stock traded hands, compared to its average volume of 854,756. AxoGen, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $34.24. The company has a current ratio of 4.09, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -600.20 and a beta of 1.06. The firm has a fifty day moving average price of $22.57 and a two-hundred day moving average price of $16.58.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The company had revenue of $60.08 million for the quarter, compared to analyst estimates of $56.90 million. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.90%. On average, equities research analysts forecast that AxoGen, Inc. will post -0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research note on Monday. Raymond James Financial reissued an “outperform” rating and set a $36.00 price target on shares of AxoGen in a report on Thursday, December 4th. Canaccord Genuity Group upped 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. Jefferies Financial Group increased their target price on shares of AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Finally, Mizuho started coverage on shares of AxoGen in a research report on Monday, December 1st. They set an “outperform” rating and a $40.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, AxoGen currently has an average rating of “Moderate Buy” and an average target price of $35.56.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new stake in AxoGen in the 3rd quarter valued at about $27,000. Aquatic Capital Management LLC grew its stake in shares of AxoGen by 287.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 1,269 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of AxoGen in the 3rd quarter worth approximately $43,000. AdvisorNet Financial Inc lifted its stake in AxoGen by 500.0% during the third quarter. AdvisorNet Financial Inc now owns 4,800 shares of the medical equipment provider’s stock valued at $86,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in AxoGen by 189.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 3,327 shares during the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

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.