AxoGen (NASDAQ:AXGN) Shares Down 2.9% – Should You Sell?

AxoGen, Inc. (NASDAQ:AXGN)’s stock price dropped 2.9% during mid-day trading on Wednesday . The stock traded as low as $17.09 and last traded at $17.11. Approximately 44,326 shares traded hands during trading, a decline of 89% from the average daily volume of 394,667 shares. The stock had previously closed at $17.63.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Lake Street Capital started coverage on AxoGen in a research report on Monday. They issued a “buy” rating and a $30.00 price target for the company. Canaccord Genuity Group upped their target price on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $22.60.

AxoGen Stock Down 2.5 %

The company has a market cap of $762.50 million, a PE ratio of -53.73 and a beta of 1.02. The stock’s 50 day moving average price is $18.14 and its 200-day moving average price is $15.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

Insider Activity

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the completion of the sale, the director now directly owns 97,899 shares in the company, valued at $1,959,937.98. This represents a 4.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AxoGen

Institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC boosted its holdings in AxoGen by 23,066.7% in the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 2,076 shares in the last quarter. R Squared Ltd purchased a new position in AxoGen in the fourth quarter worth about $30,000. US Bancorp DE purchased a new position in AxoGen in the fourth quarter worth about $30,000. State of Wyoming bought a new position in shares of AxoGen in the fourth quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of AxoGen during the fourth quarter valued at approximately $93,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

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.