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

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) insider Erick Wayne Devinney sold 15,111 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total transaction of $264,442.50. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

AxoGen Stock Down 1.8 %

Shares of AXGN traded down $0.32 on Friday, reaching $17.72. The company's stock had a trading volume of 460,457 shares, compared to its average volume of 399,691. AxoGen, Inc. has a twelve month low of $5.55 and a twelve month high of $21.00. The stock has a market capitalization of $785.78 million, a PE ratio of -55.38 and a beta of 1.02. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average of $18.24 and a 200-day moving average of $15.65.

Institutional Trading of AxoGen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC boosted its position in shares of AxoGen by 86.7% during the fourth quarter. Squarepoint Ops LLC now owns 55,668 shares of the medical equipment provider's stock valued at $917,000 after buying an additional 25,853 shares during the last quarter. State of Wyoming purchased a new position in AxoGen during the 4th quarter worth $31,000. ProShare Advisors LLC bought a new stake in shares of AxoGen in the 4th quarter worth $197,000. Nicholas Investment Partners LP raised its holdings in shares of AxoGen by 49.9% in the fourth quarter. Nicholas Investment Partners LP now owns 295,554 shares of the medical equipment provider's stock valued at $4,871,000 after purchasing an additional 98,419 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AxoGen by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider's stock valued at $398,000 after purchasing an additional 926 shares during the last quarter. 80.29% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

AXGN has been the subject of a number of research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $24.00 price target on shares of AxoGen in a report on Wednesday, March 5th. Canaccord Genuity Group boosted their target price on AxoGen from $22.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, Lake Street Capital assumed coverage on AxoGen in a research note on Monday, March 17th. They set a "buy" rating and a $30.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $22.60.

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.