AxoGen (NASDAQ:AXGN) Trading Up 4.8% – Still a Buy?

Shares of AxoGen, Inc. (NASDAQ:AXGN) shot up 4.8% on Tuesday . The stock traded as high as $18.86 and last traded at $19.03. 110,542 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 399,428 shares. The stock had previously closed at $18.15.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AXGN shares. Canaccord Genuity Group lifted their target price on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Lake Street Capital assumed coverage on AxoGen in a research note on Monday, March 17th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $24.00 price target on shares of AxoGen in a report on Wednesday, March 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, AxoGen currently has a consensus rating of “Buy” and an average target price of $22.60.

AxoGen Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The firm has a market cap of $833.67 million, a PE ratio of -58.75 and a beta of 1.02. The stock has a 50 day simple moving average of $18.26 and a 200-day simple moving average of $15.77.

Insider Activity at AxoGen

In related news, insider Erick Wayne Devinney sold 15,111 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the completion of the sale, the insider now directly owns 217,762 shares in the company, valued at approximately $3,810,835. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value of $100,100.00. Following the transaction, the director now owns 97,899 shares in the company, valued at $1,959,937.98. This trade represents a 4.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.

Institutional Investors Weigh In On AxoGen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC grew its position in shares of AxoGen by 86.7% during the fourth quarter. Squarepoint Ops LLC now owns 55,668 shares of the medical equipment provider’s stock worth $917,000 after purchasing an additional 25,853 shares in the last quarter. State of Wyoming purchased a new position in shares of AxoGen in the fourth quarter worth $31,000. ProShare Advisors LLC bought a new position in shares of AxoGen during the fourth quarter worth $197,000. Nicholas Investment Partners LP grew its stake in AxoGen by 49.9% during the fourth quarter. Nicholas Investment Partners LP now owns 295,554 shares of the medical equipment provider’s stock valued at $4,871,000 after acquiring an additional 98,419 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of AxoGen by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider’s stock valued at $398,000 after purchasing an additional 926 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

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.