AxoGen (NASDAQ:AXGN) Stock Falls 5.6% - What's Next?

Key Points

• AxoGen shares fell 5.6% to about $37.67, with trading volume below average. The stock is trading below its 50-day moving average of $45.98 but above its 200-day average of $41.73.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $51.33, although Wall Street Zen recently downgraded the stock to “Hold” and Weiss Ratings maintained a “Sell” rating.
• The company met quarterly EPS expectations at $0.12 and exceeded revenue estimates with $69.73 million, but it continues to report negative profitability metrics. Insiders sold roughly $4.66 million of shares over the past 90 days, while institutional investors own 80.29% of the stock.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) was down 5.6% during trading on Friday. The company traded as low as $38.22 and last traded at $37.6740. Approximately 644,094 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 1,115,692 shares. The stock had previously closed at $39.92.

Wall Street Analysts Forecast Growth

AXGN has been the subject of a number of analyst reports. Wall Street Zen downgraded AxoGen from a "buy" rating to a "hold" rating in a research report on Saturday, September 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of AxoGen in a research report on Wednesday, August 26th. HC Wainwright raised their price target on shares of AxoGen from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Citizens Jmp boosted their price target on shares of AxoGen from $50.00 to $55.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 30th. Finally, Citigroup reiterated a "market outperform" rating on shares of AxoGen in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.33.

AxoGen Trading Down 4.7%

The firm has a 50-day moving average of $45.98 and a 200 day moving average of $41.73. The company has a market cap of $2.05 billion, a P/E ratio of -55.87 and a beta of 1.17. 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 issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. On average, analysts predict that AxoGen, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Activity at AxoGen

In related news, Director Amy Wendell sold 13,353 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total value of $646,552.26. Following the completion of the sale, the director directly owned 107,976 shares of the company's stock, valued at $5,228,197.92. The trade was a 11.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marc A. Began sold 67,500 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $47.34, for a total value of $3,195,450.00. Following the transaction, the executive vice president directly owned 50,135 shares in the company, valued at $2,373,390.90. The trade was a 57.38% 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 sold 98,503 shares of company stock valued at $4,656,947 in the last ninety days. 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 made changes to their positions in the business. BlackRock Inc. acquired a new position in AxoGen during the 2nd quarter valued at about $204,123,000. Wasatch Advisors LP lifted its holdings in shares of AxoGen by 101.1% in the first quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider's stock valued at $61,534,000 after purchasing an additional 933,778 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of AxoGen by 44.3% during the second quarter. Wellington Management Group LLP now owns 1,391,654 shares of the medical equipment provider's stock valued at $64,280,000 after buying an additional 427,089 shares during the last quarter. Next Century Growth Investors LLC bought a new stake in AxoGen during the fourth quarter worth $26,180,000. Finally, Perceptive Advisors LLC bought a new stake in AxoGen during the fourth quarter worth $25,665,000. Institutional investors and hedge funds own 80.29% of the company's stock.

About AxoGen

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.