AxoGen (NASDAQ:AXGN) Shares Down 6.7% – Here’s Why

AxoGen, Inc. (NASDAQ:AXGN)’s share price fell 6.7% during trading on Friday . The company traded as low as $39.55 and last traded at $40.71. 1,198,586 shares traded hands during trading, an increase of 8% from the average session volume of 1,105,760 shares. The stock had previously closed at $43.62.

Analyst Ratings Changes

Several analysts recently weighed in on AXGN shares. Canaccord Genuity Group lifted their price target on shares of AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Wells Fargo & Company raised their target price on shares of AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. HC Wainwright increased their price target on shares of AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Lake Street Capital lifted their price objective on AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.50.

AxoGen Stock Performance

The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $42.67 and its 200-day moving average is $36.57. The company has a market capitalization of $2.16 billion, a P/E ratio of -63.41 and a beta of 1.09.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.05). The business had revenue of $61.46 million for the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. Equities analysts anticipate that AxoGen, Inc. will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling

In other AxoGen news, Director John Johnson sold 11,050 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $43.26, for a total transaction of $478,023.00. Following the completion of the sale, the director directly owned 11,050 shares in the company, valued at approximately $478,023. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathy Johnson Weiler sold 16,344 shares of AxoGen stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $44.09, for a total transaction of $720,606.96. Following the completion of the transaction, the director directly owned 16,344 shares of the company’s stock, valued at $720,606.96. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,041 shares of company stock worth $1,268,792 in the last 90 days. Insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On AxoGen

A number of large investors have recently added to or reduced their stakes in AXGN. Stephens Investment Management Group LLC bought a new stake in AxoGen during the fourth quarter valued at about $5,043,000. Legato Capital Management LLC purchased a new stake in shares of AxoGen during the fourth quarter worth about $1,323,000. SG Americas Securities LLC grew its position in shares of AxoGen by 459.9% during the fourth quarter. SG Americas Securities LLC now owns 65,480 shares of the medical equipment provider’s stock worth $2,143,000 after purchasing an additional 53,786 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in AxoGen by 7.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,379,849 shares of the medical equipment provider’s stock valued at $45,162,000 after purchasing an additional 90,777 shares during the period. Finally, F&V Capital Management LLC purchased a new position in AxoGen in the 4th quarter worth approximately $5,793,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.