Insider Selling: AxoGen (NASDAQ:AXGN) EVP Sells $3,195,450.00 in Stock

AxoGen, Inc. (NASDAQ:AXGN) EVP Marc Began sold 67,500 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the completion of the sale, the executive vice president owned 50,135 shares in the company, valued at approximately $2,373,390.90. This trade represents a 57.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Trading Up 1.4%

Shares of NASDAQ AXGN opened at $48.73 on Friday. AxoGen, Inc. has a twelve month low of $13.64 and a twelve month high of $49.93. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -71.66 and a beta of 1.11. The company has a quick ratio of 5.04, a current ratio of 6.60 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average is $43.42 and its 200-day moving average is $38.45.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. The business had revenue of $69.73 million during the quarter, compared to analysts’ expectations of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. Equities research analysts predict that AxoGen, Inc. will post -0.45 EPS for the current year.

Institutional Investors Weigh In On AxoGen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXGN. Royal Bank of Canada boosted its stake in shares of AxoGen by 14.2% during the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after buying an additional 4,723 shares during the last quarter. AQR Capital Management LLC increased its position in shares of AxoGen by 45.3% in the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after acquiring an additional 7,453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AxoGen by 4.4% in 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 acquiring an additional 1,057 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in AxoGen by 104,810.0% during the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after acquiring an additional 10,481 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in AxoGen by 37.3% during the second quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock worth $4,113,000 after acquiring an additional 103,072 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AXGN has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their price target 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 report on Sunday, July 26th. Truist Financial set a $55.00 target price on AxoGen in a research note on Thursday, July 30th. Raymond James Financial restated an “outperform” rating and set a $48.00 target price on shares of AxoGen in a report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a research note on Friday, May 29th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

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.