AxoGen, Inc. Insider Selling: Key Details and Market Reactions

AxoGen, Inc. (NASDAQ:AXGN) has recently seen insider trading activity as Erick Wayne Devinney, a key insider, sold 15,111 shares of the company's stock. This transaction took place on Wednesday, March 19th, and the shares were sold at an average price of $17.50 each, resulting in a total sale value of $264,442.50. Post-transaction, Devinney holds 217,762 shares in the firm, currently valued at about $3,810,835. This sale reflects a 6.49% reduction in his ownership stake in the company. The details of this transaction have been formally disclosed in a filing with the Securities and Exchange Commission.

AxoGen Stock Performance

On the same day as the insider sale, AxoGen's stock showed a positive reaction, trading up by 1.5%, with shares reaching $17.90 during the trading session. Approximately 666,537 shares changed hands, which significantly outpaced the average trading volume of 397,102 shares. AxoGen currently holds a market capitalization of $793.76 million and exhibits a price-to-earnings (P/E) ratio of -55.94 alongside a beta of 1.02. Over the past year, AxoGen's stock has fluctuated between a low of $5.55 and a peak of $21.00. The company maintains a debt-to-equity ratio of 0.67, indicating a balanced financial structure, along with a current ratio of 3.74 and a quick ratio of 2.47. Additionally, the stock's fifty-day and two-hundred-day moving averages stand at $18.19 and $15.58, respectively.

Analysts’ View on AxoGen

Recent assessments from market analysts suggest a generally optimistic outlook for AxoGen's stock. Cantor Fitzgerald has reiterated an "overweight" rating on the shares, setting a target price of $24.00. Meanwhile, Canaccord Genuity Group has raised its price target from $22.00 to $26.00, maintaining a "buy" recommendation. Lake Street Capital has also entered the fray by initiating coverage on AxoGen, projecting a price target of $30.00 and assigning a "buy" rating. Collectively, data from MarketBeat indicates that six analysts currently suggest a buy for AxoGen, with an average target price of $22.60.

Institutional Investment Trends

The institutional investment landscape surrounding AxoGen has been notable, with several hedge funds adjusting their holdings. Principal Financial Group Inc. made a new investment in AxoGen valued at approximately $207,000 in the third quarter. Similarly, Los Angeles Capital Management LLC acquired a position worth about $279,000. Oppenheimer & Co. Inc. and Quest Partners LLC also added to their stakes during the same period, with Quest Partners significantly increasing its holdings by over 23,000%. Furthermore, Connor Clark & Lunn Investment Management Ltd. raised its stake in AxoGen by 66.3%, owning nearly 309,000 shares valued at $4,328,000. Altogether, about 80.29% of AxoGen's shares are controlled by hedge funds and other institutional investors.

About AxoGen, Inc.

AxoGen, Inc. specializes in developing and marketing technologies aimed at the regeneration and repair of peripheral nerves globally. The company’s product portfolio includes various innovative solutions such as Avance Nerve Graft, a processed human nerve allograft, and AxoGuard Nerve Connector, which aids in tensionless repair of severed nerves. These products are designed to enhance recovery outcomes while minimizing complications associated with traditional surgical methods.

Insider, Selling, AxoGen