AxoGen (NASDAQ:AXGN) Insider Sells $609,125.57 in Stock

AxoGen, Inc. (NASDAQ:AXGN) insider Erick Wayne Devinney sold 19,517 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total transaction of $609,125.57. Following the completion of the transaction, the insider owned 241,132 shares of the company’s stock, valued at $7,525,729.72. This represents a 7.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Erick Wayne Devinney also recently made the following trade(s):

• On Tuesday, September 16th, Erick Wayne Devinney sold 1,137 shares of AxoGen stock. The stock was sold at an average price of $16.29, for a total value of $18,521.73.

AxoGen Price Performance

NASDAQ AXGN traded down $0.60 on Wednesday, reaching $30.01. 679,926 shares of the stock traded hands, compared to its average volume of 854,756. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $34.24. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -600.20 and a beta of 1.06. The firm’s fifty day simple moving average is $22.57 and its 200 day simple moving average is $16.58. The company has a quick ratio of 2.64, a current ratio of 4.09 and a debt-to-equity ratio of 0.54.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The business had revenue of $60.08 million during the quarter, compared to analysts’ expectations of $56.90 million. AxoGen had a negative return on equity of 1.90% and a negative net margin of 0.98%. As a group, research analysts predict that AxoGen, Inc. will post -0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AXGN. Lake Street Capital increased their target price on shares of AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Canaccord Genuity Group increased their price target on AxoGen from $27.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, December 5th. HC Wainwright lifted their target price on shares of AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research note on Monday. Finally, Citizens Jmp increased their target price on AxoGen from $26.00 to $34.00 and gave the company a “market outperform” rating in a report on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, AxoGen currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Light Asset Management LLC grew its holdings in shares of AxoGen by 28.2% during the 3rd quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock worth $103,574,000 after purchasing an additional 1,276,487 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in AxoGen by 183.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after buying an additional 1,250,968 shares during the period. Bessemer Group Inc. acquired a new position in shares of AxoGen in the 3rd quarter valued at $14,468,000. Wasatch Advisors LP lifted its holdings in shares of AxoGen by 85.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider’s stock worth $15,557,000 after acquiring an additional 659,149 shares during the period. Finally, Brown Capital Management LLC bought a new position in shares of AxoGen during the 3rd quarter worth about $11,500,000. Institutional investors own 80.29% of the company’s stock.

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.