Insider Selling: AxoGen (NASDAQ:AXGN) Insider Sells $171,457.64 in Stock

AxoGen, Inc. (NASDAQ:AXGN) insider Erick Wayne Devinney sold 5,221 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $32.84, for a total value of $171,457.64. Following the completion of the sale, the insider owned 262,781 shares in the company, valued at $8,629,728.04. The trade was a 1.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

AxoGen Stock Down 1.2%

Shares of NASDAQ:AXGN opened at $30.78 on Friday. The stock has a fifty day simple moving average of $32.57 and a two-hundred day simple moving average of $26.66. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -90.53 and a beta of 0.98. AxoGen, Inc. has a 12-month low of $9.22 and a 12-month high of $36.00. The company has a current ratio of 5.11, a quick ratio of 3.31 and a debt-to-equity ratio of 0.51.

AxoGen (NASDAQ:AXGN) last released its earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%.The company had revenue of $59.90 million during the quarter, compared to the consensus estimate of $59.90 million. On average, research analysts anticipate that AxoGen, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. HC Wainwright lifted their target price on shares of AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Canaccord Genuity Group upped their target price on shares of AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Jefferies Financial Group increased their price target on shares of AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Finally, Lake Street Capital raised their price target on shares of AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AxoGen presently has an average rating of “Moderate Buy” and an average price target of $39.38.

Institutional Investors Weigh In On AxoGen

Several large investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its holdings in AxoGen by 1.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock valued at $703,000 after acquiring an additional 371 shares during the period. Arax Advisory Partners increased its stake in AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 819 shares during the period. Brooklyn Investment Group lifted its position in shares of AxoGen by 4.2% during the fourth quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock worth $688,000 after purchasing an additional 823 shares during the last quarter. MCF Advisors LLC purchased a new stake in shares of AxoGen during the fourth quarter valued at $30,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of AxoGen by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after purchasing an additional 1,057 shares during the period. 80.29% of the stock is owned by institutional investors.

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.