Erick Wayne Devinney Sells 15,111 Shares of AxoGen, Inc. (NASDAQ:AXGN) Stock

AxoGen, Inc. (NASDAQ:AXGN) insider Erick Wayne Devinney sold 15,111 shares of the company’s 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 sale, the insider now owns 217,762 shares of the company’s stock, valued at $3,810,835. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AxoGen Stock Performance

Shares of AXGN stock opened at $18.04 on Friday. The stock’s 50-day moving average is $18.25 and its two-hundred day moving average is $15.60. The firm has a market cap of $799.97 million, a price-to-earnings ratio of -56.38 and a beta of 1.02. AxoGen, Inc. has a 1 year low of $5.55 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

Hedge Funds Weigh In On AxoGen

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Divisadero Street Capital Management LP boosted its holdings in AxoGen by 2.7% in the 4th quarter. Divisadero Street Capital Management LP now owns 26,972 shares of the medical equipment provider’s stock valued at $444,000 after purchasing an additional 700 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 valued at $398,000 after purchasing an additional 926 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in AxoGen by 8.3% in the 4th quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider’s stock valued at $264,000 after purchasing an additional 1,228 shares in the last quarter. Rhumbline Advisers boosted its holdings in AxoGen by 2.7% in the 4th quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider’s stock valued at $960,000 after purchasing an additional 1,521 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in AxoGen in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on AXGN shares. Lake Street Capital started coverage on AxoGen in a report on Monday. They issued a “buy” rating and a $30.00 price objective on the stock. Canaccord Genuity Group upped their price target on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average 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.