Insider Selling: AxoGen (NASDAQ:AXGN) Director Sells $646,552.26 in Stock

AxoGen, Inc. (NASDAQ:AXGN) Director Amy Mcbride Wendell sold 13,353 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total value of $646,552.26. Following the transaction, the director directly owned 107,976 shares in the company, valued at approximately $5,228,197.92. The trade was a 11.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Stock Performance

Shares of AxoGen stock opened at $48.73 on Friday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -71.66 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04. The business has a 50-day moving average of $43.42 and a 200 day moving average of $38.45. AxoGen, Inc. has a 12 month low of $13.64 and a 12 month high of $49.93.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The company had revenue of $69.73 million for 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, sell-side analysts forecast that AxoGen, Inc. will post -0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Wells Fargo & Company boosted their price target on shares of AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Canaccord Genuity Group upped their price objective on AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded AxoGen from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Lake Street Capital lifted their target price on AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Hedge Funds Weigh In On AxoGen

A number of institutional investors and hedge funds have recently modified their holdings of AXGN. MCF Advisors LLC acquired a new stake in AxoGen in the fourth quarter valued at $30,000. Arax Advisory Partners lifted its holdings in AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 819 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of AxoGen during the 4th quarter worth about $36,000. Kestra Advisory Services LLC acquired a new position in shares of AxoGen during the 4th quarter worth about $39,000. Finally, KBC Group NV acquired a new position in shares of AxoGen during the 1st quarter worth about $41,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

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.