Insider Selling: AxoGen (NASDAQ:AXGN) Director Sells 11,050 Shares of Stock

Key Points

• AxoGen director John Johnson sold 11,050 shares on May 7 at an average price of $43.26, totaling about $478,023. The transaction reduced his ownership by 50%.
• AXGN shares slipped on Friday to $42.06 after the sale, though the stock remains near its 52-week high of $45.83 and has risen well above its 52-week low of $9.22.
• The company’s latest earnings topped revenue expectations but missed on profit, reporting $0.07 EPS versus the expected $0.12 while revenue came in at $61.46 million. Analysts currently rate the stock a Moderate Buy with a consensus price target of $46.50.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) Director John Johnson sold 11,050 shares of the business's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total transaction of $478,023.00. Following the completion of the sale, the director owned 11,050 shares of the company's stock, valued at $478,023. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

AxoGen Stock Performance

AXGN traded down $1.35 during trading on Friday, hitting $42.06. The stock had a trading volume of 552,122 shares, compared to its average volume of 1,037,461. The firm has a market cap of $2.24 billion, a PE ratio of -65.72 and a beta of 1.17. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $45.83. The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08. The company has a 50 day simple moving average of $34.20 and a 200-day simple moving average of $31.15.

AxoGen (NASDAQ:AXGN - Get Free Report) last released 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). The firm had revenue of $61.46 million for the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. Analysts expect that AxoGen, Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on AXGN shares. Lake Street Capital upped their price target on AxoGen from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Citizens Jmp raised their price objective on shares of AxoGen from $42.00 to $50.00 and gave the stock a "market outperform" rating in a research note on Wednesday, April 29th. Citigroup reaffirmed an "outperform" rating on shares of AxoGen in a research report on Wednesday, April 29th. Raymond James Financial reissued an "outperform" rating and issued a $48.00 price target on shares of AxoGen in a report on Wednesday, April 29th. Finally, Zacks Research lowered shares of AxoGen from a "hold" rating to a "strong sell" rating in a research report on Monday, April 27th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.50.

Hedge Funds Weigh In On AxoGen

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MCF Advisors LLC acquired a new stake in shares of AxoGen during the 4th quarter valued at about $30,000. Aquatic Capital Management LLC raised its position 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 worth $31,000 after purchasing an additional 1,269 shares in the last quarter. Arax Advisory Partners raised its position in AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider's stock worth $34,000 after purchasing an additional 819 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in AxoGen during the fourth quarter worth about $36,000. Finally, Kestra Advisory Services LLC bought a new position in AxoGen during the fourth quarter worth about $39,000. 80.29% of the stock is owned by institutional investors.

AxoGen Company Profile

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.

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