AxoGen (NASDAQ:AXGN) Stock Price Up 4.8% – What’s Next?

AxoGen, Inc. (NASDAQ:AXGN) was up 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.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AXGN shares. 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 AxoGen in a research report on Monday, March 17th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Canaccord Genuity Group lifted their price target on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $22.60.

AxoGen Trading Up 4.9 %

The company has a 50 day moving average of $18.24 and a 200 day moving average of $15.70. The firm has a market cap of $844.31 million, a price-to-earnings ratio of -59.50 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.

Insider Activity

In other news, 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 value of $264,442.50. Following the completion of the transaction, the insider now owns 217,762 shares in the company, valued at approximately $3,810,835. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy Mcbride Wendell sold 5,000 shares of the 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 trade represents a 4.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AxoGen

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC lifted its position in AxoGen by 86.7% during the 4th quarter. Squarepoint Ops LLC now owns 55,668 shares of the medical equipment provider’s stock worth $917,000 after buying an additional 25,853 shares in the last quarter. State of Wyoming acquired a new position in shares of AxoGen during the fourth quarter worth approximately $31,000. ProShare Advisors LLC bought a new stake in shares of AxoGen during the fourth quarter valued at approximately $197,000. Nicholas Investment Partners LP increased 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in AxoGen by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider’s stock worth $398,000 after purchasing an additional 926 shares during the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Company Profile

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.