AxoGen, Inc. (NASDAQ:AXGN) Insider Erick Wayne Devinney Sells 15,111 Shares

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 Price Performance

AxoGen stock opened at $17.72 on Friday. AxoGen, Inc. has a one year low of $5.55 and a one year high of $21.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The business has a fifty day moving average of $18.24 and a two-hundred day moving average of $15.63. The company has a market cap of $785.78 million, a P/E ratio of -55.38 and a beta of 1.02.

Institutional Investors Weigh In On AxoGen

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in AxoGen by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after acquiring an additional 31,612 shares during the period. FMR LLC lifted its holdings in AxoGen by 743.1% in the third quarter. FMR LLC now owns 178,957 shares of the medical equipment provider’s stock valued at $2,509,000 after acquiring an additional 157,730 shares during the period. Barclays PLC lifted its holdings in AxoGen by 119.3% in the third quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock valued at $1,010,000 after acquiring an additional 39,182 shares during the period. State Street Corp lifted its holdings in AxoGen by 11.9% in the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after acquiring an additional 95,051 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in AxoGen in the third quarter valued at $207,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AXGN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $24.00 price target on shares of AxoGen in a report on Wednesday, March 5th. 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. Finally, Lake Street Capital began coverage on AxoGen in a report on Monday, March 17th. They set a “buy” rating and a $30.00 price target for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $22.60.

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.