AxoGen (NASDAQ:AXGN) Trading Up 5.4% - Here's Why

Key Points

• AxoGen's stock increased by 5.4% during mid-day trading to reach $13.70, despite a 45% decline in trading volume compared to its average.
• Canaccord Genuity has reduced its price target for AxoGen from $26.00 to $24.00 while maintaining a "buy" rating, indicating a positive outlook despite the target decrease.
• Insider trading activity revealed that Director Joseph A. Tyndall sold 20,062 shares of AxoGen, significantly decreasing his position by 56.66%.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) shot up 5.4% during mid-day trading on Tuesday . The company traded as high as $13.55 and last traded at $13.70. 356,959 shares were traded during mid-day trading, a decline of 45% from the average session volume of 648,079 shares. The stock had previously closed at $12.99.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group decreased their price target on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AxoGen currently has an average rating of "Buy" and an average target price of $24.50.

AxoGen Stock Up 5.4%

The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.65 and a current ratio of 4.28. The firm has a market capitalization of $623.58 million, a PE ratio of -91.47 and a beta of 1.04. The company has a fifty day moving average price of $11.08 and a 200-day moving average price of $14.98.

Insider Transactions at AxoGen

In other AxoGen news, Director Joseph A. Tyndall sold 20,062 shares of AxoGen stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $11.20, for a total value of $224,694.40. Following the completion of the transaction, the director directly owned 15,345 shares of the company's stock, valued at $171,864. This trade represents a 56.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXGN. Divisadero Street Capital Management LP raised its position in AxoGen by 2.7% during the fourth quarter. Divisadero Street Capital Management LP now owns 26,972 shares of the medical equipment provider's stock valued at $444,000 after purchasing an additional 700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in AxoGen by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider's stock valued at $398,000 after buying an additional 926 shares during the period. Primoris Wealth Advisors LLC lifted its position in AxoGen by 9.0% in the second quarter. Primoris Wealth Advisors LLC now owns 15,700 shares of the medical equipment provider's stock worth $170,000 after buying an additional 1,300 shares during the last quarter. Hsbc Holdings PLC boosted its stake in AxoGen by 6.5% during the first quarter. Hsbc Holdings PLC now owns 24,174 shares of the medical equipment provider's stock worth $432,000 after buying an additional 1,468 shares during the period. Finally, State of Wyoming bought a new position in AxoGen during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

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.

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