AxoGen (NASDAQ:AXGN) Shares Down 6.7% – What’s Next?

AxoGen, Inc. (NASDAQ:AXGN)’s stock price dropped 6.7% on Friday . The company traded as low as $39.55 and last traded at $40.71. 1,198,586 shares changed hands during trading, an increase of 8% from the average session volume of 1,105,760 shares. The stock had previously closed at $43.62.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AXGN shares. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Wall Street Zen upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. HC Wainwright raised their price target on AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Citigroup restated an “outperform” rating on shares of AxoGen in a research report on Wednesday, April 29th. Finally, Lake Street Capital increased their price objective on AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

AxoGen Price Performance

The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $42.70 and a two-hundred day simple moving average of $36.54. The company has a market cap of $2.16 billion, a PE ratio of -63.61 and a beta of 1.09.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The business had revenue of $61.46 million for the quarter, compared to analysts’ expectations of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. On average, equities analysts predict that AxoGen, Inc. will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other AxoGen news, Director Amy Mcbride Wendell sold 1,647 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $42.60, for a total value of $70,162.20. Following the completion of the sale, the director owned 93,826 shares of the company’s stock, valued at approximately $3,996,987.60. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Johnson sold 11,050 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $43.26, for a total value of $478,023.00. Following the completion of the sale, the director directly owned 11,050 shares of the company’s stock, valued at approximately $478,023. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 29,041 shares of company stock worth $1,268,792. 2.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. MCF Advisors LLC acquired a new stake in shares of AxoGen during the 4th quarter valued at approximately $30,000. Arax Advisory Partners increased its stake in AxoGen by 362.4% in the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 819 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in AxoGen in the 4th quarter valued at approximately $36,000. Kestra Advisory Services LLC acquired a new position in AxoGen during the fourth quarter worth $39,000. Finally, KBC Group NV acquired a new position in AxoGen during the first quarter worth $41,000. 80.29% of the stock is owned by hedge funds and other 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.