AxoGen (NASDAQ:AXGN) Director Sells $137,236.20 in Stock

Key Points

• Director William Mr. Burke sold 7,620 shares of AxoGen stock for a total of $137,236.20, reducing his ownership by 31.12% to 16,864 shares.
• AxoGen's stock is currently trading at $17.16, below its 50-day moving average of $15.68 and significantly lower than its 12-month high of $21.00.
• Recent analyst ratings show a mix, with one brokerage upgrading shares to a "buy" and setting a target price of $25.00, while Weiss Ratings maintained a "sell" rating.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) Director William Mr. Burke sold 7,620 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $18.01, for a total transaction of $137,236.20. Following the completion of the transaction, the director directly owned 16,864 shares in the company, valued at $303,720.64. This represents a 31.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

AxoGen Stock Performance

AXGN traded down $0.72 during trading on Monday, hitting $17.16. The stock had a trading volume of 799,560 shares, compared to its average volume of 841,431. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.67 and a current ratio of 4.14. The firm has a market capitalization of $789.53 million, a P/E ratio of -171.58 and a beta of 1.04. The company's 50-day moving average price is $15.68 and its 200 day moving average price is $14.12. AxoGen, Inc. has a twelve month low of $9.22 and a twelve month high of $21.00.

Analyst Ratings Changes

Several brokerages have issued reports on AXGN. Wall Street Zen raised shares of AxoGen from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. HC Wainwright began coverage on shares of AxoGen in a research report on Tuesday, September 30th. They set a "buy" rating and a $25.00 target price on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of AxoGen in a research report on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $25.75.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Squarepoint Ops LLC lifted its holdings in shares of AxoGen by 259.2% during the 2nd quarter. Squarepoint Ops LLC now owns 483,563 shares of the medical equipment provider's stock worth $5,247,000 after acquiring an additional 348,950 shares during the period. State of Wyoming purchased a new position in shares of AxoGen during the 2nd quarter worth about $69,000. Tower Research Capital LLC TRC lifted its holdings in shares of AxoGen by 189.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider's stock worth $55,000 after acquiring an additional 3,327 shares during the period. Soleus Capital Management L.P. lifted its holdings in shares of AxoGen by 0.9% during the 2nd quarter. Soleus Capital Management L.P. now owns 1,459,395 shares of the medical equipment provider's stock worth $15,834,000 after acquiring an additional 13,278 shares during the period. Finally, Wasatch Advisors LP lifted its holdings in shares of AxoGen by 85.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider's stock worth $15,557,000 after acquiring an additional 659,149 shares during the period. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.