Investors Buy High Volume of Call Options on AxoGen (NASDAQ:AXGN)

Key Points

• AxoGen saw unusually high call-option activity, with investors purchasing 9,886 calls—about 998% above its typical volume of 900 contracts.
• Analysts hold a broadly positive view, with 12 Buy ratings, two Holds, and one Sell; the consensus rating is “Moderate Buy” with a target price of $51.27.
• AXGN shares rose $11.06 to $48.52 on heavy trading volume, while the company reported quarterly earnings of $0.21 per share and revenue of $75.83 million, both ahead of expectations.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) was the target of some unusual options trading activity on Wednesday. Investors bought 9,886 call options on the company. This is an increase of approximately 998% compared to the typical volume of 900 call options.

Insider Buying and Selling at AxoGen

In other AxoGen news, Director Kathy Weiler sold 14,150 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $45.30, for a total transaction of $640,995.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph Tyndall sold 3,500 shares of AxoGen stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $49.70, for a total transaction of $173,950.00. Following the transaction, the director directly owned 10,650 shares of the company's stock, valued at $529,305. This represents a 24.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 98,503 shares of company stock worth $4,656,947 over the last three months. 2.44% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in AxoGen by 46.0% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 30,150 shares of the medical equipment provider's stock worth $1,264,000 after buying an additional 9,500 shares in the last quarter. Sterling Capital Management LLC grew its holdings in AxoGen by 858.9% during the 3rd quarter. Sterling Capital Management LLC now owns 1,774 shares of the medical equipment provider's stock valued at $74,000 after buying an additional 1,589 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of AxoGen by 16.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 2,833 shares of the medical equipment provider's stock worth $118,000 after buying an additional 409 shares in the last quarter. Artemis Investment Management LLP raised its position in AxoGen by 27.5% during the third quarter. Artemis Investment Management LLP now owns 1,780,992 shares of the medical equipment provider's stock valued at $74,659,000 after purchasing an additional 384,200 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in AxoGen during the second quarter worth $272,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on AXGN shares. Jefferies Financial Group restated a "buy" rating and issued a $55.00 price objective on shares of AxoGen in a research report on Wednesday, July 29th. Canaccord Genuity Group increased their price target on shares of AxoGen from $50.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Bank of America began coverage on shares of AxoGen in a report on Monday, October 12th. They set a "buy" rating and a $52.00 price target for the company. Morgan Stanley lowered shares of AxoGen to a "hold" rating in a report on Tuesday, September 29th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of AxoGen in a research note on Wednesday, August 26th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $51.27.

AxoGen Price Performance

AXGN traded up $11.06 during trading on Wednesday, reaching $48.52. The stock had a trading volume of 6,493,943 shares, compared to its average volume of 1,182,881. The business has a 50-day moving average of $42.80 and a 200-day moving average of $39.20. AxoGen has a one year low of $18.46 and a one year high of $52.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60. The stock has a market cap of $2.61 billion, a PE ratio of -71.19 and a beta of 1.17.

AxoGen (NASDAQ:AXGN - Get Free Report) last issued its earnings results on Wednesday, October 28th. The medical equipment provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. The company had revenue of $75.83 million during the quarter, compared to analysts' expectations of $73.18 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. As a group, equities research analysts anticipate that AxoGen will post -0.44 EPS for the current fiscal year.

About AxoGen

AxoGen, Inc NASDAQ: AXGN is a medical technology company focused on developing and commercializing products for the repair and regeneration of peripheral nerves. Its technologies are designed to help restore sensory and motor function following traumatic injuries, surgical procedures, and other conditions affecting peripheral nerves.

The company's product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient's body.

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