AxoGen (NASDAQ:AXGN) Shares Pass Above Two Hundred Day Moving Average of $7.18

AxoGen, Inc. (NASDAQ:AXGN) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.18 and traded as high as $7.98. AxoGen shares last traded at $7.92, with a volume of 789,608 shares trading hands.

Analysts Set New Price Targets

Several analysts have issued reports on AXGN shares. Cantor Fitzgerald restated an “overweight” rating and issued a $12.00 target price on shares of AxoGen in a research note on Friday, January 19th. StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th.

AxoGen Stock Performance

The stock has a market capitalization of $346.02 million, a P/E ratio of -15.23 and a beta of 1.04. The company has a 50 day simple moving average of $9.07 and a 200-day simple moving average of $7.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.89 and a quick ratio of 2.14.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Tuesday, March 5th. The medical equipment provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.11. The company had revenue of $42.92 million during the quarter, compared to analysts’ expectations of $42.70 million. AxoGen had a negative return on equity of 22.38% and a negative net margin of 13.66%. On average, equities analysts forecast that AxoGen, Inc. will post -0.46 EPS for the current year.

Insider Activity

In other news, Director Gregory Gene Freitag sold 25,000 shares of AxoGen stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $9.00, for a total value of $225,000.00. Following the completion of the transaction, the director now directly owns 271,594 shares in the company, valued at $2,444,346. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Erick Wayne Devinney sold 4,578 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $7.68, for a total transaction of $35,159.04. Following the completion of the transaction, the insider now directly owns 165,661 shares in the company, valued at $1,272,276.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gregory Gene Freitag sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $9.00, for a total value of $225,000.00. Following the transaction, the director now owns 271,594 shares of the company’s stock, valued at $2,444,346. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,201 shares of company stock worth $928,054. 7.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AxoGen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Almanack Investment Partners LLC. purchased a new position in AxoGen during the third quarter worth about $27,000. Lazard Asset Management LLC grew its position in AxoGen by 1,282.6% during the first quarter. Lazard Asset Management LLC now owns 5,088 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 4,720 shares in the last quarter. Royal Bank of Canada grew its position in AxoGen by 610.2% during the third quarter. Royal Bank of Canada now owns 6,129 shares of the medical equipment provider’s stock worth $74,000 after buying an additional 5,266 shares in the last quarter. Osaic Holdings Inc. grew its position in AxoGen by 68.8% during the second quarter. Osaic Holdings Inc. now owns 6,841 shares of the medical equipment provider’s stock worth $62,000 after buying an additional 2,788 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in AxoGen by 534.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,805 shares of the medical equipment provider’s stock worth $53,000 after buying an additional 6,575 shares in the last quarter. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

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.