AxoGen (NASDAQ:AXGN) Trading Up 4.8% - Here's Why

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) rose 4.8% on Tuesday . The stock traded as high as $18.86 and last traded at $19.03. Approximately 110,542 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 399,428 shares. The stock had previously closed at $18.15.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AXGN. Cantor Fitzgerald restated an "overweight" rating and set a $24.00 price target on shares of AxoGen in a research note on Wednesday, March 5th. Lake Street Capital assumed coverage on shares of AxoGen in a research report on Monday, March 17th. They set a "buy" rating and a $30.00 target price on the stock. Finally, Canaccord Genuity Group upped their price target on shares of AxoGen from $22.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Six 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 price target of $22.60.

AxoGen Trading Down 3.3 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The company has a market cap of $814.16 million, a price-to-earnings ratio of -57.38 and a beta of 1.02. The company's fifty day moving average is $18.27 and its two-hundred day moving average is $15.83.

Insider Transactions at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the sale, the director now owns 97,899 shares in the company, valued at approximately $1,959,937.98. This represents a 4.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the transaction, the insider now directly owns 217,762 shares of the company's stock, valued at approximately $3,810,835. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.00% of the company's stock.

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Institutional Trading of AxoGen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXGN. Quest Partners LLC boosted its stake in shares of AxoGen by 23,066.7% during 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 in the last quarter. Intech Investment Management LLC purchased a new position in AxoGen during the third quarter worth approximately $173,000. Charles Schwab Investment Management Inc. grew its holdings in AxoGen by 8.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 363,764 shares of the medical equipment provider's stock valued at $5,100,000 after purchasing an additional 28,659 shares during the period. FMR LLC increased its position in shares of AxoGen by 743.1% in the third quarter. FMR LLC now owns 178,957 shares of the medical equipment provider's stock valued at $2,509,000 after buying an additional 157,730 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of AxoGen during the 3rd quarter worth approximately $165,000. Institutional investors and hedge funds own 80.29% of the company's stock.

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.