AxoGen (NASDAQ:AXGN) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Shares of AxoGen, Inc. (NASDAQ:AXGN) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $41.36 and traded as high as $44.68. AxoGen shares last traded at $43.39, with a volume of 1,082,951 shares traded.

Analyst Ratings Changes

A number of brokerages have weighed in on AXGN. Weiss Ratings reissued a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, August 26th. HC Wainwright increased their target price on AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Raymond James Financial lifted their price target on AxoGen from $48.00 to $53.00 and gave the company an “outperform” rating in a report on Friday. Canaccord Genuity Group lifted their price target on AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of AxoGen in a research note on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, AxoGen presently has an average rating of “Moderate Buy” and an average price target of $52.11.

AxoGen Stock Performance

The stock has a market cap of $2.33 billion, a PE ratio of -63.81 and a beta of 1.16. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04. The stock has a 50-day simple moving average of $45.80 and a 200-day simple moving average of $41.36.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The company had revenue of $69.73 million for the quarter, compared to the consensus estimate of $67.10 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. Equities analysts predict that AxoGen, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at AxoGen

In other news, Director Amy Wendell sold 13,353 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total value of $646,552.26. Following the transaction, the director owned 107,976 shares of the company’s stock, valued at approximately $5,228,197.92. This trade represents a 11.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marc A. Began sold 67,500 shares of AxoGen stock in a transaction on Monday, August 10th. The shares were sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the transaction, the executive vice president owned 50,135 shares in the company, valued at $2,373,390.90. The trade was a 57.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 98,503 shares of company stock worth $4,656,947. 2.44% of the stock is currently owned by corporate insiders.

Institutional Trading of AxoGen

Several large investors have recently added to or reduced their stakes in AXGN. BlackRock Inc. acquired a new position in shares of AxoGen during the second quarter worth about $204,123,000. Wasatch Advisors LP boosted its stake in shares of AxoGen by 101.1% in the first quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock valued at $61,534,000 after purchasing an additional 933,778 shares during the period. Next Century Growth Investors LLC purchased a new position in shares of AxoGen in the fourth quarter valued at $26,180,000. Perceptive Advisors LLC acquired a new stake in AxoGen during the 4th quarter valued at $25,665,000. Finally, Bamco Inc. NY acquired a new stake in AxoGen during the 2nd quarter valued at $34,190,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

About AxoGen

AxoGen, Inc (NASDAQ: AXGN) is a medical technology company focused on the repair and regeneration of damaged peripheral nerves. The company develops and markets biologic and surgical products intended to help restore sensory and motor function following traumatic nerve injuries or surgical procedures.

Its product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves; Axoguard Nerve Connector, designed to protect and support the repair of smaller nerve injuries; and Axoguard Nerve Protector, a collagen-based product intended to help protect repaired nerves and reduce the effects of scar tissue.