AxoGen (NASDAQ:AXGN) Trading Down 4.4% – Time to Sell?

AxoGen, Inc. (NASDAQ:AXGN) shares were down 4.4% during mid-day trading on Monday . The company traded as low as $33.13 and last traded at $32.94. Approximately 364,612 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 969,853 shares. The stock had previously closed at $34.44.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AXGN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research note on Monday, December 29th. Wells Fargo & Company began coverage on AxoGen in a research note on Thursday, February 19th. They set an “overweight” rating and a $40.00 price objective on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $41.00 price objective on shares of AxoGen in a report on Monday, February 23rd. Citigroup reiterated an “outperform” rating on shares of AxoGen in a report on Tuesday, February 24th. Finally, Wall Street Zen cut shares of AxoGen from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.75.

AxoGen Trading Down 5.8%

The company has a quick ratio of 3.31, a current ratio of 5.11 and a debt-to-equity ratio of 0.51. The firm has a market cap of $1.68 billion, a P/E ratio of -96.04 and a beta of 0.98. The firm’s 50-day simple moving average is $32.80 and its 200 day simple moving average is $27.98.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $59.90 million for the quarter, compared to analysts’ expectations of $59.90 million. AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%. As a group, analysts expect that AxoGen, Inc. will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Erick Wayne Devinney sold 5,221 shares of AxoGen stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $32.84, for a total value of $171,457.64. Following the completion of the transaction, the insider owned 262,781 shares in the company, valued at $8,629,728.04. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC boosted its holdings in shares of AxoGen by 1.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock worth $703,000 after acquiring an additional 371 shares during the period. Arax Advisory Partners boosted its stake in AxoGen by 362.4% in the 4th 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. Brooklyn Investment Group grew its holdings in AxoGen by 4.2% during the 4th quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock valued at $688,000 after buying an additional 823 shares in the last quarter. MCF Advisors LLC purchased a new position in AxoGen during the 4th quarter valued at about $30,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AxoGen by 4.4% during 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 buying an additional 1,057 shares during the period. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

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.