AxoGen (NASDAQ:AXGN) Rating Increased to Buy at Wall Street Zen

Key Points

• AxoGen has been upgraded to a "buy" rating by Wall Street Zen, marking an upgrade from a previous "hold" rating.
• Canaccord Genuity reduced their price target for AxoGen from $26.00 to $24.00, while the consensus price target among analysts remains at $24.50.
• Insider transactions reveal that Director Joseph A. Tyndall sold over 20,000 shares, reducing his position by 56.66% in the company.

AxoGen (NASDAQ:AXGN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Separately, Canaccord Genuity Group dropped their target price on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, May 13th.

AxoGen Stock Performance

Shares of AXGN traded up $0.04 during trading hours on Friday, hitting $14.05. The company had a trading volume of 889,185 shares, compared to its average volume of 777,030. The company has a quick ratio of 2.67, a current ratio of 4.14 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $11.54 and a 200-day moving average of $14.63. AxoGen has a 12 month low of $9.22 and a 12 month high of $21.00. The firm has a market cap of $646.44 million, a price-to-earnings ratio of -140.49 and a beta of 1.00.

Insiders Place Their Bets

In related news, Director Joseph A. Tyndall sold 20,062 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 15,345 shares in the company, valued at approximately $171,864. This represents a 56.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.78% of the stock is owned by insiders.

Institutional Trading of AxoGen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Light Asset Management LLC increased its holdings in shares of AxoGen by 10.2% during the fourth quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider's stock valued at $74,272,000 after acquiring an additional 416,499 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of AxoGen by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider's stock valued at $46,964,000 after purchasing an additional 112,679 shares during the period. Driehaus Capital Management LLC grew its stake in shares of AxoGen by 22.8% during the 1st quarter. Driehaus Capital Management LLC now owns 1,172,029 shares of the medical equipment provider's stock valued at $21,683,000 after purchasing an additional 217,590 shares during the period. Geode Capital Management LLC grew its stake in shares of AxoGen by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,060,599 shares of the medical equipment provider's stock valued at $11,509,000 after acquiring an additional 33,686 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of AxoGen by 2.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,023,122 shares of the medical equipment provider's stock valued at $11,101,000 after acquiring an additional 21,905 shares during the period. Hedge funds and other institutional investors own 80.29% of the company's stock.

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.