AxoGen (NASDAQ:AXGN) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• AxoGen shares moved above their 200-day moving average, reaching $44.68 before closing at $43.39, compared with a 200-day average of $41.36.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $52.11; recent targets range from $53 to $60, although one rating was downgraded to “Hold.”
• The company met quarterly EPS expectations at $0.12 and exceeded revenue estimates with $69.73 million, but remains unprofitable; insiders sold roughly $4.66 million in shares over the past three months.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $41.36 and traded as high as $44.68. AxoGen shares last traded at $43.39, with a volume of 1,082,951 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AXGN shares. Wall Street Zen lowered AxoGen from a "buy" rating to a "hold" rating in a research report on Saturday. Citigroup restated a "market outperform" rating on shares of AxoGen in a report on Thursday, July 30th. Truist Financial began coverage on AxoGen in a research note on Wednesday, August 26th. They issued a "buy" rating and a $60.00 price target for the company. Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 price target on shares of AxoGen in a report on Wednesday, July 29th. Finally, Raymond James Financial boosted their price objective on shares of AxoGen from $48.00 to $53.00 and gave the company an "outperform" rating in a research report on Friday. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.11.

AxoGen Price Performance

The business has a fifty day simple moving average of $45.80 and a two-hundred day simple moving average of $41.36. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.33 billion, a PE ratio of -63.81 and a beta of 1.16.

AxoGen (NASDAQ:AXGN - Get Free Report) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, meeting analysts' consensus estimates of $0.12. The company had revenue of $69.73 million during the quarter, compared to analysts' expectations of $67.10 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. Research analysts forecast that AxoGen, Inc. will post -0.45 earnings per share for the current year.

Insider Transactions at AxoGen

In related news, Director Amy Wendell sold 13,353 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total value of $646,552.26. Following the completion of the transaction, the director directly owned 107,976 shares in the company, valued at $5,228,197.92. This trade represents a 11.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Weiler sold 14,150 shares of AxoGen 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. 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. Over the last three months, insiders sold 98,503 shares of company stock worth $4,656,947. Corporate insiders own 2.44% of the company's stock.

Hedge Funds Weigh In On AxoGen

A number of institutional investors and hedge funds have recently made changes to their positions in AXGN. MCF Advisors LLC purchased a new stake in AxoGen during the 4th quarter valued at about $30,000. Nykredit A S purchased a new position in AxoGen in the second quarter worth about $30,000. KBC Group NV bought a new position in shares of AxoGen in the first quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd bought a new position in shares of AxoGen in the fourth quarter worth approximately $52,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of AxoGen during the second quarter valued at approximately $203,000. Institutional investors own 80.29% of the company's stock.

About AxoGen

AxoGen, Inc NASDAQ: AXGN is a medical technology company focused on the repair and regeneration of damaged peripheral nerves. The company develops and markets biologic and surgical products intended to help restore sensory and motor function following traumatic nerve injuries or surgical procedures.

Its product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves; Axoguard Nerve Connector, designed to protect and support the repair of smaller nerve injuries; and Axoguard Nerve Protector, a collagen-based product intended to help protect repaired nerves and reduce the effects of scar tissue.

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