AxoGen (NASDAQ:AXGN) Trading Down 2.9% – What’s Next?

AxoGen, Inc. (NASDAQ:AXGN)’s share price fell 2.9% during trading on Wednesday . The company traded as low as $17.09 and last traded at $17.11. 44,326 shares were traded during mid-day trading, a decline of 89% from the average session volume of 394,667 shares. The stock had previously closed at $17.63.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AXGN shares. Canaccord Genuity Group upped their price target on AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Lake Street Capital initiated coverage on shares of AxoGen in a research note on Monday. They set a “buy” rating and a $30.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 price target on shares of AxoGen in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $22.60.

AxoGen Stock Performance

The firm has a market cap of $762.50 million, a price-to-earnings ratio of -53.73 and a beta of 1.02. 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 firm has a fifty day simple moving average of $18.14 and a two-hundred day simple moving average of $15.57.

Insider Buying and Selling

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the completion of the transaction, the director now directly owns 97,899 shares of the company’s stock, valued at approximately $1,959,937.98. This trade represents a 4.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On AxoGen

Hedge funds have recently modified their holdings of the company. R Squared Ltd acquired a new position in AxoGen during the fourth quarter worth $30,000. US Bancorp DE purchased a new stake in shares of AxoGen in the fourth quarter valued at approximately $30,000. State of Wyoming purchased a new stake in AxoGen in the 4th quarter valued at $31,000. Quest Partners LLC increased its stake in shares of AxoGen by 23,066.7% in the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 2,076 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of AxoGen during the 4th quarter worth $93,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

About AxoGen

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.