AxoGen (NASDAQ:AXGN) EVP Marc Began Sells 67,500 Shares of Stock

AxoGen, Inc. (NASDAQ:AXGN) EVP Marc Began sold 67,500 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the completion of the sale, the executive vice president directly owned 50,135 shares in the company, valued at approximately $2,373,390.90. This trade represents a 57.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Price Performance

AXGN stock opened at $49.67 on Thursday. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -73.04 and a beta of 1.11. The firm’s 50-day moving average price is $43.19 and its two-hundred day moving average price is $38.27. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07. AxoGen, Inc. has a 12-month low of $13.64 and a 12-month high of $49.90.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. The company had revenue of $69.73 million during the quarter, compared to analyst estimates of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. As a group, equities analysts predict that AxoGen, Inc. will post -0.45 earnings per share for the current year.

Institutional Trading of AxoGen

Several large investors have recently bought and sold shares of the company. MCF Advisors LLC purchased a new position in shares of AxoGen in the 4th quarter valued at approximately $30,000. Aquatic Capital Management LLC raised its holdings in AxoGen by 287.8% in the third 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 in the last quarter. Arax Advisory Partners lifted its position in AxoGen by 362.4% during the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 819 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in AxoGen during the fourth quarter valued at $36,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of AxoGen during the 4th quarter valued at $39,000. 80.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AXGN. Zacks Research upgraded AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. 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. Weiss Ratings restated a “sell (d-)” rating on shares of AxoGen in a report on Friday, May 29th. HC Wainwright raised their price target on AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Canaccord Genuity Group lifted their price target on shares of AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

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.