Insider Selling: AxoGen, Inc. (NASDAQ:AXGN) Insider Sells 15,111 Shares of Stock

AxoGen, Inc. (NASDAQ:AXGN) recently reported that insider Erick Wayne Devinney sold 15,111 shares of the company’s stock on March 19th. The shares were sold at an average price of $17.50, making the total value of the transaction approximately $264,442.50. After this sale, Devinney holds 217,762 shares of the company, which are valued at about $3,810,835. This sale represents a decrease of 6.49% in his ownership stake in AxoGen.

AxoGen Stock Performance

On the date of the sale, AxoGen's stock saw a slight increase of 1.5%, rising by $0.27 to reach $17.90 during trading. A total of 666,537 shares were exchanged on that day, surpassing the average trading volume of 397,102. Overall, the company has a market capitalization of approximately $793.76 million with a P/E ratio of -55.94 and a beta of 1.02. Within the last year, AXGN has had a low of $5.55 and a high of $21.00. The firm maintains a debt-to-equity ratio of 0.67, a current ratio of 3.74, and a quick ratio of 2.47. Furthermore, its fifty-day moving average stands at $18.19 while the two-hundred-day moving average is at $15.58.

Research Analyst Ratings

Analysts have been actively evaluating AxoGen's stock. Recently, Cantor Fitzgerald reiterated an "overweight" rating for AXGN, with a price target set at $24.00 as of March 5th. Meanwhile, Canaccord Genuity Group increased their price target from $22.00 to $26.00, also giving the stock a "buy" rating on February 26th. Additionally, Lake Street Capital began coverage on AxoGen, assigning a "buy" rating and a price target of $30.00. Currently, six analysts have rated AXGN as a buy, leading to a consensus rating of "Buy" with an average price target of $22.60 according to data from MarketBeat.

Institutional Investments in AxoGen

Hedge funds have been adjusting their holdings in AxoGen recently. Principal Financial Group Inc. acquired a new position in AxoGen during the third quarter, valued at around $207,000. Los Angeles Capital Management LLC also bought shares worth approximately $279,000, while Oppenheimer & Co. Inc. made a purchase around $156,000. Quest Partners LLC significantly increased its stake in AxoGen by 23,066.7%, now owning 2,085 shares valued at $29,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised their stake by 66.3%, acquiring a total of 308,686 shares worth about $4,328,000. Presently, hedge funds and institutional investors hold 80.29% of AxoGen's stock.

About AxoGen, Inc.

AxoGen, Inc. specializes in developing and commercializing technologies for the repair and regeneration of peripheral nerves globally. Its product line includes the Avance Nerve Graft, which allows surgeons to bridge severed peripheral nerves without the complications associated with additional surgeries. Other products include AxoGuard Nerve Connector for the tensionless repair of damaged nerves and AxoGuard Nerve Protector, which helps to shield and support injured nerves, preventing soft tissue attachments.

Conclusion

Understanding insider sales and institutional investments can provide valuable insights into a company's performance and outlook. Investors in AxoGen should keep an eye on ongoing developments as they assess their positions in the stock.

AxoGen, Insider, Selling