AxoGen (NASDAQ:AXGN) Director Sells $646,552.26 in Stock

Key Points

• Director Amy McBride Wendell sold 13,353 AxoGen shares for approximately $646,552 at an average price of $48.42 under a pre-arranged Rule 10b5-1 plan, reducing her holdings by 11.01% to 107,976 shares.
• AxoGen shares rose 2.5% to $49.67, near their 52-week high of $49.90. The company recently matched earnings expectations at $0.12 per share and exceeded revenue estimates with quarterly sales of $69.73 million.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $51.00; nine of 11 analysts rate the stock a Buy. Institutional investors own approximately 80.29% of the company.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) Director Amy Mcbride Wendell sold 13,353 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total transaction of $646,552.26. Following the transaction, the director owned 107,976 shares in the company, valued at $5,228,197.92. This represents a 11.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Stock Up 2.5%

Shares of AXGN stock traded up $1.19 on Wednesday, reaching $49.67. 716,477 shares of the company were exchanged, compared to its average volume of 1,112,363. 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 company has a 50-day moving average of $43.01 and a 200-day moving average of $38.14. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -73.04 and a beta of 1.11. AxoGen, Inc. has a one year low of $13.64 and a one year high of $49.90.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AXGN. Jefferies Financial Group restated a "buy" rating and set a $55.00 price objective on shares of AxoGen in a report on Wednesday, July 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of AxoGen in a research report on Friday, May 29th. Canaccord Genuity Group upped their target price on shares of AxoGen from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Raymond James Financial reaffirmed an "outperform" rating and issued a $48.00 price target on shares of AxoGen in a research report on Wednesday, April 29th. Finally, HC Wainwright lifted their price target on AxoGen from $50.00 to $53.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, AxoGen has a consensus rating of "Moderate Buy" and an average target price of $51.00.

Hedge Funds Weigh In On AxoGen

Several institutional investors have recently modified their holdings of AXGN. MCF Advisors LLC bought a new stake in shares of AxoGen during the 4th quarter worth $30,000. Aquatic Capital Management LLC grew its position in AxoGen by 287.8% during the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider's stock valued at $31,000 after buying an additional 1,269 shares during the period. Arax Advisory Partners grew its position in AxoGen by 362.4% during the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider's stock valued at $34,000 after buying an additional 819 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in AxoGen during the fourth quarter worth about $36,000. Finally, Kestra Advisory Services LLC bought a new stake in AxoGen in the fourth quarter worth about $39,000. 80.29% of the stock is owned by institutional investors.

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.

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