Insider Selling: AxoGen (NASDAQ:AXGN) Director Sells 11,050 Shares of Stock

AxoGen, Inc. (NASDAQ:AXGN) Director John Johnson sold 11,050 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total value of $478,023.00. Following the completion of the transaction, the director directly owned 11,050 shares of the company’s stock, valued at approximately $478,023. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

AxoGen Price Performance

NASDAQ:AXGN traded down $1.35 during trading hours on Friday, reaching $42.06. The company had a trading volume of 552,122 shares, compared to its average volume of 1,037,461. AxoGen, Inc. has a one year low of $9.22 and a one year high of $45.83. The company has a quick ratio of 5.33, a current ratio of 7.10 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $34.20 and a two-hundred day moving average of $31.15. The firm has a market capitalization of $2.24 billion, a PE ratio of -65.72 and a beta of 1.17.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The firm had revenue of $61.46 million for the quarter, compared to analyst estimates of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. Analysts forecast that AxoGen, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AXGN has been the topic of a number of research analyst reports. Raymond James Financial restated an “outperform” rating and set a $48.00 price target on shares of AxoGen in a research report on Wednesday, April 29th. Wells Fargo & Company lifted their price objective on AxoGen from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Citizens Jmp increased their target price on AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. Canaccord Genuity Group raised their target price on AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, HC Wainwright lifted their price target on AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, AxoGen presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Institutional Trading of AxoGen

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Light Asset Management LLC raised its position in AxoGen by 28.2% in 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 last quarter. Balyasny Asset Management L.P. boosted its position 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 last quarter. Wasatch Advisors LP increased its stake in shares of AxoGen by 101.1% in the 1st quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock valued at $61,534,000 after buying an additional 933,778 shares during the period. Millennium Management LLC increased its stake in shares of AxoGen by 2,255.8% in the 4th quarter. Millennium Management LLC now owns 971,358 shares of the medical equipment provider’s stock valued at $31,793,000 after buying an additional 930,126 shares during the period. Finally, Bessemer Group Inc. bought a new stake in shares of AxoGen during the third quarter worth $14,468,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Company Profile

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.