AxoGen (NASDAQ:AXGN) Shares Down 6.5% – What’s Next?

AxoGen, Inc. (NASDAQ:AXGNGet Free Report)’s stock price traded down 6.5% during trading on Thursday . The stock traded as low as $42.23 and last traded at $44.18. 544,656 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 1,074,817 shares. The stock had previously closed at $47.27.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AXGN. Zacks Research raised shares of AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. HC Wainwright raised their price objective on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Citizens Jmp increased their target price on AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating and set a $55.00 price target on shares of AxoGen in a research note on Wednesday, July 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AxoGen in a report on Wednesday, August 26th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.56.

Check Out Our Latest Stock Analysis on AXGN

AxoGen Stock Down 9.3%

The stock has a 50-day moving average price of $45.36 and a 200-day moving average price of $40.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04. The company has a market capitalization of $2.30 billion, a P/E ratio of -62.33 and a beta of 1.16.

AxoGen (NASDAQ:AXGNGet Free Report) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The business had revenue of $69.73 million during the quarter, compared to the consensus estimate of $67.10 million. On average, research analysts predict that AxoGen, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In other AxoGen news, Director Joseph A. Tyndall sold 3,500 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $49.70, for a total transaction of $173,950.00. Following the sale, the director owned 10,650 shares of the company’s stock, valued at approximately $529,305. This represents a 24.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marc A. Began sold 67,500 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $47.34, for a total value of $3,195,450.00. Following the sale, the executive vice president owned 50,135 shares of the company’s stock, valued at approximately $2,373,390.90. The trade was a 57.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 98,503 shares of company stock worth $4,656,947 over the last ninety days. Corporate insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Light Asset Management LLC grew its stake in AxoGen by 1.2% during the second quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock worth $49,142,000 after purchasing an additional 55,028 shares during the period. BlackRock Inc. acquired a new position in AxoGen in the second quarter valued at approximately $204,123,000. Vanguard Group Inc. boosted its holdings in shares of AxoGen by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock worth $93,934,000 after buying an additional 190,557 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of AxoGen by 4,400.3% during the 2nd quarter. California State Teachers Retirement System now owns 2,661,006 shares of the medical equipment provider’s stock worth $122,912,000 after buying an additional 2,601,877 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of AxoGen by 6.5% during the 4th quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock worth $84,668,000 after buying an additional 157,029 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

About AxoGen

(Get Free Report)

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.

Further Reading

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