AxoGen, Inc. (NASDAQ:AXGN) Insider Sells $35,159.04 in Stock

AxoGen, Inc. (NASDAQ:AXGN) insider Erick Wayne Devinney sold 4,578 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $7.68, for a total transaction of $35,159.04. Following the sale, the insider now directly owns 165,661 shares of the company’s stock, valued at approximately $1,272,276.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

AxoGen Stock Up 2.9 %

AxoGen stock opened at $7.77 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.89 and a quick ratio of 2.14. The firm has a 50-day moving average price of $9.26 and a two-hundred day moving average price of $7.03. AxoGen, Inc. has a 52-week low of $3.45 and a 52-week high of $10.83.

Analyst Ratings Changes

A number of brokerages recently weighed in on AXGN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $12.00 price objective on shares of AxoGen in a research report on Friday, January 19th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $11.00 target price on shares of AxoGen in a research note on Thursday, December 7th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in AxoGen by 2.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 42,906 shares of the medical equipment provider’s stock valued at $351,000 after purchasing an additional 1,187 shares during the period. Principal Financial Group Inc. lifted its stake in shares of AxoGen by 12.8% in the 2nd quarter. Principal Financial Group Inc. now owns 12,795 shares of the medical equipment provider’s stock worth $117,000 after acquiring an additional 1,450 shares during the period. Rhumbline Advisers lifted its stake in shares of AxoGen by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 54,379 shares of the medical equipment provider’s stock worth $496,000 after acquiring an additional 1,527 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of AxoGen by 7.2% in the 4th quarter. JPMorgan Chase & Co. now owns 23,912 shares of the medical equipment provider’s stock worth $238,000 after acquiring an additional 1,612 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of AxoGen by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 296,989 shares of the medical equipment provider’s stock worth $2,359,000 after acquiring an additional 2,193 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

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.