Amy Mcbride Wendell Sells 13,353 Shares of AxoGen (NASDAQ:AXGN) Stock

AxoGen, Inc. (NASDAQ:AXGN) Director Amy Mcbride Wendell sold 13,353 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total transaction of $646,552.26. Following the transaction, the director owned 107,976 shares in the company, valued at $5,228,197.92. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Trading Down 3.3%

Shares of NASDAQ:AXGN opened at $48.05 on Friday. AxoGen, Inc. has a 52-week low of $13.64 and a 52-week high of $49.93. The company has a market capitalization of $2.58 billion, a P/E ratio of -70.66 and a beta of 1.11. The company has a 50-day simple moving average of $43.31 and a 200 day simple moving average of $38.37. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60.

AxoGen (NASDAQ:AXGN) last announced 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 firm had revenue of $69.73 million for the quarter, compared to the consensus estimate of $67.10 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. Sell-side analysts forecast that AxoGen, Inc. will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On AxoGen

A number of hedge funds have recently added to or reduced their stakes in AXGN. MCF Advisors LLC acquired a new position in AxoGen in the 4th quarter valued at $30,000. Aquatic Capital Management LLC increased its position in shares of AxoGen by 287.8% in the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 1,269 shares during the period. Arax Advisory Partners increased its position in shares of 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. Caitong International Asset Management Co. Ltd acquired a new position in AxoGen in the fourth quarter valued at about $36,000. Finally, Kestra Advisory Services LLC acquired a new position in AxoGen in the fourth quarter valued at about $39,000. Institutional investors own 80.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of AxoGen in a research note on Friday, May 29th. Lake Street Capital lifted their price objective on shares of AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. HC Wainwright upped their price objective on shares of AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Citizens Jmp increased their target price on AxoGen from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Finally, Citigroup reissued a “market outperform” rating on shares of AxoGen in a report on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

About AxoGen

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.