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

Key Points

• AxoGen call-option activity surged, with traders purchasing 9,058 contracts—about 2,713% above the average daily volume of 322.
• Institutional ownership is substantial at 80.29%; BlackRock initiated a roughly $204.1 million position, while Wasatch Advisors more than doubled its holdings.
• AxoGen shares fell to $38.13, below the analyst consensus target of $51.33. Analysts remain broadly positive, with an overall “Moderate Buy” rating, despite recent insider sales and the company’s projected full-year loss.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) was the target of unusually large options trading activity on Friday. Traders bought 9,058 call options on the company. This is an increase of approximately 2,713% compared to the average daily volume of 322 call options.

Insider Activity at AxoGen

In other AxoGen news, Director Kathy Weiler sold 14,150 shares of the business's stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Wendell sold 13,353 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total transaction of $646,552.26. Following the sale, the director owned 107,976 shares of the company's stock, valued at approximately $5,228,197.92. This represents a 11.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 98,503 shares of company stock worth $4,656,947. Company insiders own 2.44% of the company's stock.

Institutional Investors Weigh In On AxoGen

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of AxoGen during the second quarter valued at approximately $204,123,000. Wasatch Advisors LP increased its holdings in AxoGen by 101.1% in the 1st quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider's stock valued at $61,534,000 after acquiring an additional 933,778 shares during the last quarter. Next Century Growth Investors LLC purchased a new stake in AxoGen in the 4th quarter worth $26,180,000. Perceptive Advisors LLC bought a new position in shares of AxoGen during the 4th quarter valued at about $25,665,000. Finally, Bamco Inc. NY bought a new position in shares of AxoGen during the 2nd quarter valued at about $34,190,000. 80.29% of the stock is owned by institutional investors.

AxoGen Stock Performance

NASDAQ AXGN traded down $1.79 on Friday, reaching $38.13. 1,061,696 shares of the stock were exchanged, compared to its average volume of 1,117,823. AxoGen has a one year low of $15.27 and a one year high of $52.91. The firm has a market capitalization of $2.05 billion, a PE ratio of -55.68 and a beta of 1.17. The company's 50-day simple moving average is $45.98 and its two-hundred day simple moving average is $41.73. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07.

AxoGen (NASDAQ:AXGN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, hitting analysts' consensus estimates of $0.12. The business had revenue of $69.73 million during the quarter, compared to analyst estimates of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. Analysts expect that AxoGen will post -0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AXGN. HC Wainwright raised their target price on AxoGen from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Truist Financial reduced their price target on shares of AxoGen from $60.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday. Citigroup reiterated a "market outperform" rating on shares of AxoGen in a research note on Thursday, July 30th. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 price objective on shares of AxoGen in a report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of AxoGen from a "buy" rating to a "hold" rating in a research report on Saturday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $51.33.

AxoGen Company Profile

AxoGen, Inc is a medical technology company focused on repairing and regenerating damaged peripheral nerves. The company develops and commercializes products for use by surgeons treating traumatic nerve injuries and other conditions in which nerve function has been compromised.

AxoGen's product portfolio includes Avance Nerve Graft, a processed human nerve allograft designed to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient's body. Its offerings also include Axoguard Nerve Connector and Axoguard Nerve Protector products, which are designed to support nerve repair and protect nerves during healing, as well as other products for peripheral nerve reconstruction.

Founded in 2002, AxoGen is headquartered in Alachua, Florida.

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