AxoGen, Inc. (NASDAQ:AXGN) Insider Sells $264,442.50 in Stock

AxoGen, Inc. (NASDAQ:AXGN) recently experienced an insider transaction involving Erick Wayne Devinney, who sold 15,111 shares of the company’s stock on March 19th. The shares were sold at an average price of $17.50, resulting in a total transaction value of $264,442.50. After this sale, Devinney holds 217,762 shares of AxoGen, which are currently valued at about $3,810,835, marking a 6.49% reduction in his ownership of the company’s shares. This transaction has been officially reported in a filing with the SEC, which can be reviewed for detailed information.

AxoGen Stock Performance

On Thursday, shares of AxoGen opened at $17.90. The company's financial metrics reveal a debt-to-equity ratio of 0.67, a quick ratio of 2.47, and a current ratio of 3.74. AxoGen has a market capitalization of $793.76 million, with a P/E ratio of -55.94 and a beta of 1.02. Additionally, the stock has seen a 52-week low of $5.55 and a high of $21.00. The fifty-day moving average stands at $18.19, while the two-hundred-day moving average is at $15.58.

Institutional Trading of AxoGen

Recently, several large investors have adjusted their stakes in AxoGen. Principal Financial Group Inc. initiated a new stake valued at approximately $207,000 in the third quarter. Likewise, Los Angeles Capital Management LLC acquired a stake worth around $279,000 during the same period. Oppenheimer & Co. Inc. also purchased shares in AxoGen, amounting to about $156,000. Additionally, Quest Partners LLC dramatically increased its holdings by 23,066.7% in the third quarter, now owning 2,085 shares worth $29,000. Lastly, Connor Clark & Lunn Investment Management Ltd. raised its stake in AxoGen by 66.3%, holding now 308,686 shares worth $4,328,000 after acquiring an additional 123,118 shares. Overall, institutional investors own 80.29% of the company's stock.

Wall Street Analysts Forecast Growth

Analysts have been actively discussing AxoGen, with multiple reports providing outlooks on the stock. Cantor Fitzgerald maintained an "overweight" rating and set a price target of $24.00 on March 5th. Meanwhile, Canaccord Genuity Group increased their price target from $22.00 to $26.00 and labeled the stock as a "buy" in their report on February 26th. Lake Street Capital also began coverage on AxoGen with a "buy" rating and a $30.00 price objective. Currently, several analysts have rated the stock with a "buy" rating, and according to MarketBeat, AxoGen holds a consensus rating of "Buy" with an average target price of $22.60.

About AxoGen

AxoGen, Inc., along with its subsidiaries, specializes in developing and commercializing technologies aimed at peripheral nerve regeneration and repair across the globe. Its product lineup includes: the Avance Nerve Graft, a biologically active processed human nerve allograft that allows for bridging severed peripheral nerves; the AxoGuard Nerve Connector, which aids in the tensionless repair of severed nerves; and AxoGuard Nerve Protector, designed to wrap and protect damaged nerves while reinforcing nerve reconstructions. Another product is the Axoguard HA+ Nerve Protector, designed to offer both short- and long-term protection for nerve injuries.

AxoGen, Stock, Insider