AxoGen, Inc. (NASDAQ:AXGN – Get Free Report)’s share price reached a new 52-week high on Thursday . The company traded as high as $45.99 and last traded at $45.5250, with a volume of 3220 shares trading hands. The stock had previously closed at $44.57.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Citizens Jmp increased their price target on shares of AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a report on Friday, May 29th. Citigroup reiterated an “outperform” rating on shares of AxoGen in a research report on Wednesday, April 29th. Raymond James Financial restated an “outperform” rating and issued a $48.00 price target on shares of AxoGen in a research report on Wednesday, April 29th. Finally, Canaccord Genuity Group boosted their price target on shares of AxoGen from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AxoGen currently has an average rating of “Moderate Buy” and an average target price of $46.50.
Check Out Our Latest Research Report on AXGN
AxoGen Stock Up 1.1%
AxoGen (NASDAQ:AXGN – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The company had revenue of $61.46 million during the quarter, compared to analysts’ expectations of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. As a group, analysts predict that AxoGen, Inc. will post -0.37 EPS for the current year.
Insider Transactions at AxoGen
In other AxoGen news, Director Amy Mcbride Wendell sold 1,647 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $42.60, for a total value of $70,162.20. Following the completion of the transaction, the director owned 93,826 shares of the company’s stock, valued at $3,996,987.60. The trade was a 1.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathy Johnson Weiler sold 16,344 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $44.09, for a total transaction of $720,606.96. Following the transaction, the director owned 16,344 shares in the company, valued at $720,606.96. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 29,041 shares of company stock valued at $1,268,792. 2.44% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its holdings in AxoGen by 1.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock valued at $703,000 after acquiring an additional 371 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of AxoGen by 6.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider’s stock valued at $296,000 after purchasing an additional 525 shares during the last quarter. Arax Advisory Partners grew its stake in shares of AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 819 shares during the period. Brooklyn Investment Group grew its stake in shares of AxoGen by 4.2% during the 4th quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock valued at $688,000 after acquiring an additional 823 shares during the period. Finally, MCF Advisors LLC bought a new position in shares of AxoGen during the 4th quarter valued at approximately $30,000. 80.29% of the stock is owned by hedge funds and other institutional investors.
About AxoGen
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.
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