Joseph Tyndall Sells 25,108 Shares of AxoGen (NASDAQ:AXGN) Stock

AxoGen, Inc. (NASDAQ:AXGN) Director Joseph Tyndall sold 25,108 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $30.98, for a total transaction of $777,845.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

AxoGen Price Performance

AxoGen stock traded down $0.60 during mid-day trading on Wednesday, reaching $30.01. The company had a trading volume of 679,926 shares, compared to its average volume of 854,756. The stock’s 50-day simple moving average is $22.57 and its 200-day simple moving average is $16.58. AxoGen, Inc. has a 1 year low of $9.22 and a 1 year high of $34.24. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64. The company has a market capitalization of $1.38 billion, a P/E ratio of -600.20 and a beta of 1.06.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $60.08 million for the quarter, compared to analyst estimates of $56.90 million. AxoGen had a negative return on equity of 1.90% and a negative net margin of 0.98%. On average, equities analysts predict that AxoGen, Inc. will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. First Light Asset Management LLC lifted its stake 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 during the period. Balyasny Asset Management L.P. grew its position in shares of AxoGen by 183.9% in the second 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 purchasing an additional 1,250,968 shares during the period. Bessemer Group Inc. acquired a new position in AxoGen in the third quarter valued at $14,468,000. Wasatch Advisors LP lifted its position in AxoGen by 85.1% during the second quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider’s stock worth $15,557,000 after buying an additional 659,149 shares during the period. Finally, Brown Capital Management LLC acquired a new stake in AxoGen in the 3rd quarter worth about $11,500,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AXGN. HC Wainwright upped their price target on shares of AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a report on Friday, December 5th. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a research note on Thursday, October 30th. JMP Securities set a $34.00 price target on AxoGen in a research report on Thursday, October 30th. Canaccord Genuity Group upped their price objective on AxoGen from $27.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research note on Monday. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, AxoGen has a consensus rating of “Moderate Buy” and an average target price of $35.56.

About AxoGen

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.