AxoGen, Inc. (NASDAQ:AXGN) Insider Sells $264,442.50 in Stock

AxoGen, Inc. (NASDAQ:AXGN) insider Erick Wayne Devinney sold 15,111 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total transaction of $264,442.50. Following the sale, the insider now owns 217,762 shares in the company, valued at $3,810,835. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

AxoGen Stock Performance

Shares of AxoGen stock opened at $17.72 on Friday. The firm has a market capitalization of $785.78 million, a P/E ratio of -55.38 and a beta of 1.02. AxoGen, Inc. has a 52 week low of $5.55 and a 52 week high of $21.00. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. The firm’s 50 day moving average is $18.24 and its two-hundred day moving average is $15.63.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $24.00 target price on shares of AxoGen in a research note on Wednesday, March 5th. Canaccord Genuity Group upped their target price on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Lake Street Capital assumed coverage on shares of AxoGen in a research note on Monday, March 17th. They set a “buy” rating and a $30.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $22.60.

Hedge Funds Weigh In On AxoGen

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in AxoGen by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after purchasing an additional 31,612 shares during the last quarter. FMR LLC boosted its holdings in shares of AxoGen by 743.1% in the third quarter. FMR LLC now owns 178,957 shares of the medical equipment provider’s stock valued at $2,509,000 after acquiring an additional 157,730 shares during the period. Barclays PLC boosted its holdings in shares of AxoGen by 119.3% in the third quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock valued at $1,010,000 after acquiring an additional 39,182 shares during the period. State Street Corp boosted its holdings in shares of AxoGen by 11.9% in the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after acquiring an additional 95,051 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in shares of AxoGen in the third quarter valued at approximately $207,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.