Insider Selling: AxoGen, Inc. (NASDAQ:AXGN) Insider Sells 15,111 Shares of Stock

AxoGen, Inc. (NASDAQ:AXGN) insider Erick Wayne Devinney sold 15,111 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

AxoGen Stock Up 1.5 %

Shares of AXGN stock traded up $0.27 during trading hours on Wednesday, reaching $17.90. 666,537 shares of the stock were exchanged, compared to its average volume of 397,102. The firm has a market capitalization of $793.76 million, a P/E ratio of -55.94 and a beta of 1.02. AxoGen, Inc. has a 12-month low of $5.55 and a 12-month high of $21.00. 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 business’s fifty day moving average is $18.19 and its two-hundred day moving average is $15.58.

Analyst Ratings Changes

Several research analysts have recently weighed in on AXGN shares. Cantor Fitzgerald reissued an “overweight” rating and set a $24.00 price target on shares of AxoGen in a research report on Wednesday, March 5th. Canaccord Genuity Group upped 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. Finally, Lake Street Capital started coverage on shares of AxoGen in a research note on Monday. They set a “buy” rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AxoGen currently has a consensus rating of “Buy” and an average price target of $22.60.

Hedge Funds Weigh In On AxoGen

Several hedge funds have recently added to or reduced their stakes in AXGN. Principal Financial Group Inc. purchased a new position in AxoGen in the third quarter valued at approximately $207,000. Los Angeles Capital Management LLC purchased a new position in AxoGen in the third quarter valued at approximately $279,000. Oppenheimer & Co. Inc. purchased a new position in AxoGen in the third quarter valued at approximately $156,000. Quest Partners LLC increased its stake in AxoGen by 23,066.7% in the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 2,076 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in AxoGen by 66.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 308,686 shares of the medical equipment provider’s stock valued at $4,328,000 after purchasing an additional 123,118 shares during the last quarter. 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.