AxoGen (NASDAQ:AXGN) Stock Price Down 6.1% – Time to Sell?

Shares of AxoGen, Inc. (NASDAQ:AXGN) traded down 6.1% on Friday . The stock traded as low as $30.69 and last traded at $30.7350. 481,005 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 879,288 shares. The stock had previously closed at $32.73.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AXGN. Weiss Ratings restated a “sell (e+)” rating on shares of AxoGen in a report on Monday. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a research report on Thursday, October 30th. HC Wainwright lifted their price objective on shares of AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a report on Friday, December 5th. Mizuho initiated coverage on AxoGen in a research report on Monday, December 1st. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Canaccord Genuity Group lifted their price target on AxoGen from $27.00 to $37.00 and gave the company a “buy” rating in a report on Friday, December 5th. Nine 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 a consensus rating of “Moderate Buy” and a consensus price target of $35.56.

AxoGen Price Performance

The stock’s 50 day simple moving average is $27.57 and its 200-day simple moving average is $18.97. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -614.20 and a beta of 1.00. 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 (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.90%. The business had revenue of $60.08 million during the quarter, compared to the consensus estimate of $56.90 million. Equities research analysts anticipate that AxoGen, Inc. will post -0.29 EPS for the current fiscal year.

Insider Transactions at AxoGen

In related news, CEO Michael D. Dale sold 61,463 shares of AxoGen stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $31.21, for a total transaction of $1,918,260.23. Following the completion of the sale, the chief executive officer owned 88,537 shares of the company’s stock, valued at $2,763,239.77. The trade was a 40.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph A. Tyndall sold 25,108 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $30.98, for a total transaction of $777,845.84. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 401,952 shares of company stock valued at $11,411,282. 2.78% of the stock is owned by company insiders.

Institutional Trading of AxoGen

Several hedge funds and other institutional investors have recently bought and sold shares of AXGN. FNY Investment Advisers LLC acquired a new stake in AxoGen during the 3rd quarter worth $64,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of AxoGen by 23.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 241,592 shares of the medical equipment provider’s stock worth $4,310,000 after purchasing an additional 45,592 shares during the last quarter. Armistice Capital LLC grew its position in shares of AxoGen by 8.0% in the third quarter. Armistice Capital LLC now owns 1,200,000 shares of the medical equipment provider’s stock valued at $21,408,000 after purchasing an additional 88,681 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of 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 purchasing an additional 205,569 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in AxoGen during the third quarter worth approximately $1,133,000. 80.29% of the stock is owned by institutional investors and hedge funds.

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.