AxoGen (NASDAQ:AXGN) EVP Marc Began Sells 67,500 Shares of Stock

AxoGen, Inc. (NASDAQ:AXGN) EVP Marc Began sold 67,500 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the sale, the executive vice president directly owned 50,135 shares in the company, valued at $2,373,390.90. The trade was a 57.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Stock Up 2.5%

AXGN traded up $1.19 during midday trading on Wednesday, reaching $49.67. The company’s stock had a trading volume of 716,477 shares, compared to its average volume of 1,112,363. AxoGen, Inc. has a 1 year low of $13.64 and a 1 year high of $49.90. The stock’s 50-day moving average is $43.01 and its 200-day moving average is $38.14. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -73.04 and a beta of 1.11. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07.

AxoGen (NASDAQ:AXGN) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The firm had revenue of $69.73 million during the quarter, compared to analyst estimates of $67.10 million. As a group, research analysts expect that AxoGen, Inc. will post -0.45 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AXGN shares. Wells Fargo & Company boosted their target price on AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Citigroup restated a “market outperform” rating on shares of AxoGen in a report on Thursday, July 30th. HC Wainwright lifted their price target on AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Canaccord Genuity Group upped their price target on shares of AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Raymond James Financial reissued an “outperform” rating and set a $48.00 price objective on shares of AxoGen in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Hedge Funds Weigh In On AxoGen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC bought a new position in AxoGen during the fourth quarter valued at approximately $5,043,000. Legato Capital Management LLC purchased a new stake in AxoGen in the fourth quarter worth approximately $1,323,000. Bessemer Group Inc. grew its position in AxoGen by 41.9% in the 1st quarter. Bessemer Group Inc. now owns 660,553 shares of the medical equipment provider’s stock worth $21,885,000 after purchasing an additional 194,949 shares during the period. Westover Capital Advisors LLC bought a new stake in AxoGen in the 4th quarter worth approximately $500,000. Finally, SummitTX Capital L.P. purchased a new stake in AxoGen during the 1st quarter valued at $7,769,000. 80.29% of the stock is owned by 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.