Erick Wayne Devinney Sells 1,137 Shares of AxoGen (NASDAQ:AXGN) Stock

Key Points

• Erick Wayne Devinney sold 1,137 shares of AxoGen stock for a total of approximately $18,521 on September 16, reducing his ownership stake by 0.51% to 220,649 shares valued at about $3.59 million.
• AxoGen's stock recently traded at $16.73, experiencing a 2.2% increase, while the company holds a market cap of $769.75 million and has a P/E ratio of -167.28.
• Wall Street analysts have recently upgraded AxoGen from a "hold" to a "buy" rating, with a consensus price target of $26.00.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) insider Erick Wayne Devinney sold 1,137 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $16.29, for a total value of $18,521.73. Following the transaction, the insider owned 220,649 shares in the company, valued at approximately $3,594,372.21. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

AxoGen Trading Up 2.6%

AXGN traded up $0.44 during trading hours on Thursday, reaching $17.26. The company's stock had a trading volume of 620,111 shares, compared to its average volume of 834,098. AxoGen, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $21.00. The stock has a market cap of $794.18 million, a PE ratio of -172.58 and a beta of 1.03. The business's 50-day moving average is $14.42 and its 200-day moving average is $14.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.14 and a quick ratio of 2.67.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised AxoGen from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $26.00.

Hedge Funds Weigh In On AxoGen

Several large investors have recently bought and sold shares of AXGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 worth $398,000 after purchasing an additional 926 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of AxoGen by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,194 shares of the medical equipment provider's stock worth $176,000 after purchasing an additional 1,079 shares in the last quarter. Primoris Wealth Advisors LLC increased its stake in shares of AxoGen by 9.0% during the 2nd quarter. Primoris Wealth Advisors LLC now owns 15,700 shares of the medical equipment provider's stock worth $170,000 after purchasing an additional 1,300 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of AxoGen by 6.5% during the 1st quarter. Hsbc Holdings PLC now owns 24,174 shares of the medical equipment provider's stock worth $432,000 after purchasing an additional 1,468 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of AxoGen during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds 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.