Canaccord Genuity Group Has Lowered Expectations for AxoGen (NASDAQ:AXGN) Stock Price

AxoGen (NASDAQ:AXGN - Free Report) had its price objective cut by Canaccord Genuity Group from $26.00 to $24.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the medical equipment provider's stock.

A number of other analysts have also weighed in on the stock. Lake Street Capital initiated coverage on shares of AxoGen in a report on Monday, March 17th. They set a "buy" rating and a $30.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $24.00 price target on shares of AxoGen in a research note on Wednesday, March 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $22.20.

AxoGen Trading Up 0.4%

AxoGen stock traded up $0.05 during mid-day trading on Tuesday, hitting $11.83. The company's stock had a trading volume of 503,244 shares, compared to its average volume of 461,720. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The stock has a market cap of $538.68 million, a price-to-earnings ratio of -36.97 and a beta of 1.19. The business has a 50 day moving average price of $16.13 and a 200-day moving average price of $16.22. AxoGen has a 12 month low of $5.74 and a 12 month high of $21.00.

Insider Buying and Selling at AxoGen

In other news, Director Amy Mcbride Wendell sold 5,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value of $100,100.00. Following the sale, the director now directly owns 97,899 shares in the company, valued at $1,959,937.98. The trade was a 4.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total transaction of $264,442.50. Following the completion of the sale, the insider now owns 217,762 shares in the company, valued at approximately $3,810,835. This trade represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

Institutional Trading of AxoGen

A number of large investors have recently made changes to their positions in AXGN. R Squared Ltd bought a new stake in shares of AxoGen in the 4th quarter worth about $30,000. US Bancorp DE bought a new stake in shares of AxoGen in the 4th quarter worth about $30,000. State of Wyoming bought a new position in AxoGen during the 4th quarter valued at about $31,000. Fifth Third Bancorp bought a new position in AxoGen during the 1st quarter valued at about $92,000. Finally, Harvest Fund Management Co. Ltd bought a new position in AxoGen during the 4th quarter valued at about $93,000. 80.29% of the stock is currently owned by institutional investors.

About AxoGen

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.