AxoGen (NASDAQ:AXGN) Sees Large Volume Increase

AxoGen, Inc (NASDAQ:AXGN) shares saw an uptick in trading volume on Monday . 1,690,116 shares traded hands during trading, an increase of 203% from the previous session’s volume of 558,481 shares.The stock last traded at $12.73 and had previously closed at $12.39.

Several brokerages have recently commented on AXGN. Cantor Fitzgerald lowered their price target on shares of AxoGen from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. BTIG Research decreased their price objective on shares of AxoGen to $21.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Canaccord Genuity set a $30.00 price objective on shares of AxoGen and gave the company a “buy” rating in a report on Wednesday, August 7th. JMP Securities decreased their price objective on shares of AxoGen from $43.00 to $28.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, ValuEngine upgraded shares of AxoGen from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.00.

The stock has a market cap of $492.26 million, a price-to-earnings ratio of -23.57 and a beta of 0.17. The stock’s fifty day moving average is $13.41 and its 200-day moving average is $18.17. The company has a quick ratio of 7.87, a current ratio of 8.70 and a debt-to-equity ratio of 0.02.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.09. The firm had revenue of $26.70 million during the quarter, compared to analysts’ expectations of $26.77 million. AxoGen had a negative net margin of 26.91% and a negative return on equity of 16.73%. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share. As a group, equities research analysts predict that AxoGen, Inc will post -0.72 earnings per share for the current fiscal year.

In related news, CEO Karen L. Zaderej purchased 75,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $13.50 per share, with a total value of $1,012,500.00. Following the completion of the purchase, the chief executive officer now owns 593,280 shares in the company, valued at approximately $8,009,280. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CIO Daniel Pietrzak purchased 10,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $5.65 per share, for a total transaction of $56,500.00. In the last 90 days, insiders have purchased 107,535 shares of company stock valued at $1,389,672. Corporate insiders own 6.77% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. bought a new stake in shares of AxoGen in the second quarter worth $570,000. Man Group plc lifted its position in shares of AxoGen by 27.2% in the second quarter. Man Group plc now owns 546,096 shares of the medical equipment provider’s stock worth $10,813,000 after purchasing an additional 116,692 shares in the last quarter. Atria Investments LLC bought a new stake in shares of AxoGen in the second quarter worth $178,000. Aperio Group LLC bought a new stake in shares of AxoGen in the second quarter worth $77,000. Finally, Swiss National Bank lifted its position in shares of AxoGen by 8.8% in the second quarter. Swiss National Bank now owns 65,200 shares of the medical equipment provider’s stock worth $1,291,000 after purchasing an additional 5,300 shares in the last quarter. 84.58% of the stock is currently owned by hedge funds and other institutional investors.

About AxoGen (NASDAQ:AXGN)

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and 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.

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