Insider Selling at AxoGen, Inc. (NASDAQ:AXGN)

AxoGen, Inc. (NASDAQ:AXGN) experienced insider trading activity recently when Erick Wayne Devinney, an insider at the company, sold a total of 15,111 shares of stock on Wednesday, March 19th. This sale occurred at an average price of $17.50 per share, which brought the total value of the transaction to $264,442.50. Following this transaction, Devinney now holds 217,762 shares of AxoGen, valued at about $3,810,835. It is important to note that this sale reflected a 6.49% decrease in the insider's overall position within the company. The details of the sale have been made available in a filing with the Securities and Exchange Commission (SEC).

AxoGen Stock Price Movement

On the day of the transaction, shares of AXGN stock increased by 1.5%, rising by $0.27 during trading hours to reach $17.90. A total of 666,537 shares were traded, which is higher than the average trading volume of 397,102 shares. The market capitalization of AxoGen stands at approximately $793.76 million, with a negative P/E ratio of -55.94 and a beta of 1.02. Over the past year, the stock has recorded a low of $5.55 and a high of $21.00. Furthermore, the company has a debt-to-equity ratio of 0.67, a current ratio of 3.74, and a quick ratio of 2.47. The fifty-day moving average price for the stock is $18.19, while the two-hundred day moving average stands at $15.58.

Recent Analyst Ratings for AxoGen

Several analysts have recently provided their insights on AXGN shares. In a report dated March 5th, Cantor Fitzgerald reaffirmed an "overweight" rating and set a price target of $24.00 for the stock. Additionally, Canaccord Genuity Group raised their target price on AxoGen from $22.00 to $26.00, rating the stock as a "buy" in a report published on February 26th. Furthermore, Lake Street Capital initiated coverage on AxoGen shares on Monday, assigning a "buy" rating and setting a target price of $30.00. Currently, six research analysts have rated AxoGen with a buy rating, and according to MarketBeat, the consensus rating for the stock is "Buy" with an average price target of $22.60.

Institutional Investor Activity in AxoGen

In recent quarters, numerous hedge funds have adjusted their positions in AXGN. Principal Financial Group Inc. added a new stake in AxoGen valued at approximately $207,000 during the third quarter. Similarly, Los Angeles Capital Management LLC acquired a new position worth around $279,000. Oppenheimer & Co. Inc. also entered a new position, valued at about $156,000. Quest Partners LLC significantly increased its stake in AxoGen by an astonishing 23,066.7%, now owning 2,085 shares after acquiring an additional 2,076 shares last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake by 66.3%, now holding 308,686 shares valued at $4,328,000. As of now, 80.29% of AxoGen's stock is owned by hedge funds and institutional investors.

About AxoGen, Inc.

AxoGen, Inc. focuses on developing and commercializing technologies aimed at the regeneration and repair of peripheral nerves on a global scale. Their range of products includes the Avance Nerve Graft, a processed human nerve allograft that enables the bridging of severed nerves without complications from a second surgical site. Additionally, they offer the AxoGuard Nerve Connector, an extracellular matrix aid designed for the tensionless repair of damaged peripheral nerves. Other products include the AxoGuard Nerve Protector and AxoGuard HA+ Nerve Protector, both designed for protecting and supporting the repair of peripheral nerves.

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