AxoGen, Inc Common Stock (AXGN) Trading Up 5.4% Following Insider Buying Activity
AxoGen, Inc Common Stock (NASDAQ:AXGN)’s share price was up 5.4% during mid-day trading on Friday following insider buying activity. The stock traded as high as $38.65 and last traded at $37.75. Approximately 665,492 shares changed hands during mid-day trading, an increase of 61% from the average daily volume of 412,234 shares. The stock had previously closed at $35.80.
Specifically, Director Amy Mcbride Wendell purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was acquired at an average cost of $36.89 per share, with a total value of $184,450.00. Following the acquisition, the director now owns 18,333 shares of the company’s stock, valued at approximately $676,304.37. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 7.86% of the company’s stock.
Several research analysts have recently commented on AXGN shares. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $45.00 price target on shares of AxoGen, Inc Common Stock in a report on Thursday, August 9th. Leerink Swann reaffirmed an “outperform” rating and issued a $70.00 price target on shares of AxoGen, Inc Common Stock in a report on Tuesday, June 26th. ValuEngine raised shares of AxoGen, Inc Common Stock from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. JMP Securities lifted their price target on shares of AxoGen, Inc Common Stock from $34.00 to $43.00 and gave the company a “market outperform” rating in a report on Tuesday, May 1st. Finally, BidaskClub lowered shares of AxoGen, Inc Common Stock from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.29.
AxoGen, Inc Common Stock (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, August 1st. The medical equipment provider reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). The firm had revenue of $20.58 million during the quarter, compared to the consensus estimate of $21.25 million. AxoGen, Inc Common Stock had a negative net margin of 24.96% and a negative return on equity of 26.50%. The company’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) earnings per share. analysts predict that AxoGen, Inc Common Stock will post -0.61 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its position in AxoGen, Inc Common Stock by 844.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,427 shares of the medical equipment provider’s stock valued at $122,000 after purchasing an additional 2,170 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in AxoGen, Inc Common Stock in the 2nd quarter valued at about $156,000. Bank of Montreal Can bought a new stake in AxoGen, Inc Common Stock in the 2nd quarter valued at about $180,000. Jane Street Group LLC bought a new stake in AxoGen, Inc Common Stock in the 2nd quarter valued at about $201,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in AxoGen, Inc Common Stock in the 2nd quarter valued at about $207,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.
About AxoGen, Inc Common Stock (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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