AxoGen, Inc. (NASDAQ:AXGN) Insider Sells $35,159.04 in Stock

AxoGen, Inc. (NASDAQ:AXGN) insider Erick Wayne Devinney sold 4,578 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $7.68, for a total transaction of $35,159.04. Following the sale, the insider now directly owns 165,661 shares in the company, valued at approximately $1,272,276.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

AxoGen Stock Up 2.9 %

Shares of AxoGen stock opened at $7.77 on Thursday. The firm’s fifty day simple moving average is $9.26 and its 200-day simple moving average is $7.03. AxoGen, Inc. has a 12 month low of $3.45 and a 12 month high of $10.83. The company has a quick ratio of 2.14, a current ratio of 2.89 and a debt-to-equity ratio of 0.71.

Hedge Funds Weigh In On AxoGen

Institutional investors have recently modified their holdings of the business. Almanack Investment Partners LLC. acquired a new position in shares of AxoGen in the 3rd quarter valued at $27,000. Lazard Asset Management LLC grew its position in AxoGen by 1,282.6% in the 1st quarter. Lazard Asset Management LLC now owns 5,088 shares of the medical equipment provider’s stock valued at $40,000 after buying an additional 4,720 shares during the last quarter. Royal Bank of Canada grew its position in AxoGen by 610.2% in the 3rd quarter. Royal Bank of Canada now owns 6,129 shares of the medical equipment provider’s stock valued at $74,000 after buying an additional 5,266 shares during the last quarter. Osaic Holdings Inc. grew its position in AxoGen by 68.8% in the 2nd quarter. Osaic Holdings Inc. now owns 6,841 shares of the medical equipment provider’s stock valued at $62,000 after buying an additional 2,788 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in AxoGen by 534.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $53,000 after buying an additional 6,575 shares during the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AXGN shares. Canaccord Genuity Group reissued a “buy” rating and set a $11.00 price objective on shares of AxoGen in a report on Thursday, December 7th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $12.00 target price on shares of AxoGen in a report on Friday, January 19th.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.