AxoGen (NASDAQ:AXGN) Shares Down 6.7% - What's Next?

Key Points

• AxoGen shares fell 6.7% in mid-day trading, hitting an intraday low of $39.55 after closing at $43.62 the previous session. Trading volume topped 1.19 million shares, slightly above the average session volume.
• Analysts remain broadly bullish despite the drop, with several firms raising price targets to $48-$50 and maintaining Buy/Outperform ratings. The stock now carries a consensus rating of Moderate Buy and an average price target of $46.50.
• Recent earnings were mixed: AxoGen reported $0.07 EPS, missing expectations of $0.12, but revenue came in above estimates at $61.46 million. The company also continues to see insider selling, while institutional investors hold the majority of the stock.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) dropped 6.7% during mid-day trading on Friday . The stock traded as low as $39.55 and last traded at $40.71. Approximately 1,198,586 shares were traded during mid-day trading, an increase of 8% from the average session volume of 1,105,760 shares. The stock had previously closed at $43.62.

Analyst Ratings Changes

Several research firms recently commented on AXGN. HC Wainwright boosted their target price on AxoGen from $39.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Wells Fargo & Company boosted their price objective on AxoGen from $40.00 to $48.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Canaccord Genuity Group upped their target price on shares of AxoGen from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Citigroup reaffirmed an "outperform" rating on shares of AxoGen in a report on Wednesday, April 29th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $48.00 price target on shares of AxoGen in a research note on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, AxoGen presently has an average rating of "Moderate Buy" and a consensus price target of $46.50.

AxoGen Stock Performance

The firm has a 50 day moving average of $42.70 and a two-hundred day moving average of $36.54. The stock has a market cap of $2.16 billion, a PE ratio of -63.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33.

AxoGen (NASDAQ:AXGN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.05). AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. The business had revenue of $61.46 million during the quarter, compared to analyst estimates of $57.85 million. Research analysts predict that AxoGen, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 1,647 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $42.60, for a total value of $70,162.20. Following the completion of the transaction, the director owned 93,826 shares in the company, valued at $3,996,987.60. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Johnson sold 11,050 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $43.26, for a total value of $478,023.00. Following the transaction, the director directly owned 11,050 shares in the company, valued at approximately $478,023. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,041 shares of company stock valued at $1,268,792 in the last ninety days. Insiders own 2.44% of the company's stock.

Institutional Trading of AxoGen

Several institutional investors and hedge funds have recently made changes to their positions in the company. MCF Advisors LLC purchased a new position in AxoGen during the 4th quarter worth approximately $30,000. Aquatic Capital Management LLC lifted its stake in AxoGen by 287.8% in 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 last quarter. Arax Advisory Partners boosted its holdings in shares of AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider's stock valued at $34,000 after acquiring an additional 819 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AxoGen in the fourth quarter valued at approximately $36,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of AxoGen during the fourth quarter worth approximately $39,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

About AxoGen

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.