AxoGen Sees Unusually Large Options Volume (NASDAQ:AXGN)

AxoGen, Inc. (NASDAQ:AXGN) was the target of some unusual options trading on Friday. Stock traders acquired 9,058 call options on the stock. This represents an increase of approximately 2,713% compared to the typical volume of 322 call options.

Insider Transactions at AxoGen

In other news, Director Amy Wendell sold 13,353 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total transaction of $646,552.26. Following the sale, the director directly owned 107,976 shares of the company’s stock, valued at $5,228,197.92. This represents a 11.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph Tyndall sold 3,500 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $49.70, for a total transaction of $173,950.00. Following the completion of the transaction, the director directly owned 10,650 shares of the company’s stock, valued at approximately $529,305. This trade represents a 24.73% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 98,503 shares of company stock worth $4,656,947. 2.44% of the stock is owned by insiders.

Institutional Investors Weigh In On AxoGen

Several hedge funds and other institutional investors have recently modified their holdings of AXGN. Lisanti Capital Growth LLC bought a new stake in AxoGen during the 2nd quarter valued at about $4,183,000. Edmond DE Rothschild Holding S.A. purchased a new stake in AxoGen in the 2nd quarter valued at about $1,469,000. TimesSquare Capital Management LLC purchased a new stake in AxoGen in the 2nd quarter valued at about $31,863,000. Rice Hall James & Associates LLC bought a new position in AxoGen in the 2nd quarter worth about $3,414,000. Finally, SummitTX Capital L.P. bought a new position in AxoGen in the 1st quarter worth about $7,769,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of AxoGen from a “buy” rating to a “hold” rating in a report on Saturday, September 26th. Citizens Jmp upped their price objective on AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Canaccord Genuity Group raised their price objective on AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of AxoGen in a report on Wednesday, July 29th. Finally, Raymond James Financial boosted their target price on AxoGen from $48.00 to $53.00 and gave the company an “outperform” rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.33.

AxoGen Trading Down 4.5%

Shares of AXGN stock traded down $1.79 during trading hours on Friday, reaching $38.13. 1,061,696 shares of the stock were exchanged, compared to its average volume of 1,117,823. AxoGen has a 12-month low of $15.27 and a 12-month high of $52.91. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $45.98 and its 200-day moving average price is $41.73. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -55.68 and a beta of 1.17.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The company had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. As a group, equities analysts anticipate that AxoGen will post -0.44 earnings per share for the current year.

About AxoGen

AxoGen, Inc is a medical technology company focused on repairing and regenerating damaged peripheral nerves. The company develops and commercializes products for use by surgeons treating traumatic nerve injuries and other conditions in which nerve function has been compromised.

AxoGen’s product portfolio includes Avance Nerve Graft, a processed human nerve allograft designed to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient’s body. Its offerings also include Axoguard Nerve Connector and Axoguard Nerve Protector products, which are designed to support nerve repair and protect nerves during healing, as well as other products for peripheral nerve reconstruction.

Founded in 2002, AxoGen is headquartered in Alachua, Florida.