AxoGen, Inc. (NASDAQ:AXGN) Insider Sells $264,442.50 in Stock

AxoGen, Inc. (NASDAQ:AXGN) insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the sale, the insider now directly owns 217,762 shares of the company’s stock, valued at $3,810,835. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

AxoGen Stock Performance

Shares of NASDAQ AXGN traded up $0.27 during mid-day trading on Wednesday, hitting $17.90. 666,537 shares of the company were exchanged, compared to its average volume of 397,102. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $18.19 and a 200-day simple moving average of $15.58. AxoGen, Inc. has a 1-year low of $5.55 and a 1-year high of $21.00. The firm has a market cap of $793.76 million, a price-to-earnings ratio of -55.94 and a beta of 1.02.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AXGN. Lake Street Capital began coverage on AxoGen in a report on Monday. They issued a “buy” rating and a $30.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $24.00 price objective on shares of AxoGen in a report on Wednesday, March 5th. Finally, Canaccord Genuity Group increased their price target on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $22.60.

Institutional Investors Weigh In On AxoGen

Several hedge funds have recently modified their holdings of AXGN. R Squared Ltd purchased a new position in AxoGen in the fourth quarter worth $30,000. US Bancorp DE purchased a new position in AxoGen in the fourth quarter worth $30,000. State of Wyoming purchased a new position in AxoGen in the fourth quarter worth $31,000. Quest Partners LLC raised its position in AxoGen by 23,066.7% in the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 2,076 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in AxoGen in the fourth quarter worth $93,000. 80.29% of the stock is owned by institutional investors and hedge funds.

AxoGen Company Profile

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.