AxoGen (NASDAQ:AXGN) Reaches New 52-Week High – Here’s Why

AxoGen, Inc. (NASDAQ:AXGN) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $46.26 and last traded at $46.19, with a volume of 1201349 shares. The stock had previously closed at $44.72.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AXGN shares. Citigroup reissued an “outperform” rating on shares of AxoGen in a research report on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research note on Friday, May 29th. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. HC Wainwright lifted their target price on shares of AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen cut AxoGen from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.50.

AxoGen Trading Up 3.3%

The stock’s 50 day moving average is $41.65 and its 200-day moving average is $35.73. The company has a market cap of $2.46 billion, a P/E ratio of -72.17 and a beta of 1.12. The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). The firm had revenue of $61.46 million during the quarter, compared to analysts’ expectations of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. Research analysts anticipate that AxoGen, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kathy Johnson Weiler sold 16,344 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $44.09, for a total value of $720,606.96. Following the completion of the transaction, the director directly owned 16,344 shares in the company, valued at $720,606.96. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Mcbride Wendell sold 1,647 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $42.60, for a total value of $70,162.20. Following the completion of the transaction, the director directly owned 93,826 shares in the company, valued at $3,996,987.60. This trade represents a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,041 shares of company stock worth $1,268,792 in the last three months. Insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Several large investors have recently bought and sold shares of the business. MCF Advisors LLC bought a new position in AxoGen during the 4th quarter valued at about $30,000. Aquatic Capital Management LLC boosted its holdings in AxoGen by 287.8% in the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 1,269 shares during the last quarter. Arax Advisory Partners grew its position in AxoGen by 362.4% in the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 819 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in AxoGen in the 4th quarter worth approximately $36,000. Finally, Kestra Advisory Services LLC purchased a new stake in AxoGen during the 4th quarter valued at $39,000. 80.29% of the stock is currently owned by institutional investors.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.