AxoGen (NASDAQ:AXGN) Director Joseph Tyndall Sells 3,500 Shares

AxoGen, Inc. (NASDAQ:AXGN) Director Joseph Tyndall sold 3,500 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $49.70, for a total transaction of $173,950.00. Following the sale, the director directly owned 10,650 shares in the company, valued at $529,305. This trade represents a 24.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Price Performance

Shares of AxoGen stock traded up $1.18 during trading hours on Friday, reaching $48.28. The stock had a trading volume of 550,066 shares, compared to its average volume of 1,085,818. AxoGen, Inc. has a twelve month low of $15.27 and a twelve month high of $52.91. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.60 billion, a PE ratio of -71.00 and a beta of 1.16. The stock’s 50 day moving average is $45.14 and its 200 day moving average is $40.00.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LP purchased a new position in AxoGen during the second quarter worth approximately $418,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of AxoGen during the 2nd quarter worth $954,000. California State Teachers Retirement System boosted its position in shares of AxoGen by 4,400.3% during the 2nd quarter. California State Teachers Retirement System now owns 2,661,006 shares of the medical equipment provider’s stock valued at $122,912,000 after acquiring an additional 2,601,877 shares during the last quarter. Nykredit A S purchased a new stake in shares of AxoGen in the second quarter valued at about $30,000. Finally, Aubrey Capital Management Ltd increased its position in AxoGen by 13.4% during the second quarter. Aubrey Capital Management Ltd now owns 98,700 shares of the medical equipment provider’s stock worth $4,560,000 after purchasing an additional 11,700 shares during the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, August 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 price objective on shares of AxoGen in a report on Wednesday, July 29th. Truist Financial initiated coverage on AxoGen in a report on Wednesday, August 26th. They set a “buy” rating and a $60.00 target price for the company. Finally, Zacks Research raised AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AxoGen currently has an average rating of “Moderate Buy” and an average target price of $51.56.

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.