Quentin S. Blackford Buys 15,535 Shares of AxoGen, Inc (NASDAQ:AXGN) Stock

AxoGen, Inc (NASDAQ:AXGN) Director Quentin S. Blackford purchased 15,535 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $14.01 per share, for a total transaction of $217,645.35. Following the completion of the acquisition, the director now owns 25,098 shares of the company’s stock, valued at $351,622.98. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of NASDAQ:AXGN traded up $0.51 during midday trading on Tuesday, reaching $15.12. The company had a trading volume of 20,318 shares, compared to its average volume of 765,664. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.87 and a current ratio of 8.70. The company’s 50 day moving average is $18.42. The firm has a market capitalization of $525.23 million, a PE ratio of -27.91 and a beta of 0.18. AxoGen, Inc has a 1-year low of $11.82 and a 1-year high of $46.25.

AxoGen (NASDAQ:AXGN) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.09. The business had revenue of $26.70 million for the quarter, compared to the consensus estimate of $26.77 million. AxoGen had a negative return on equity of 16.73% and a negative net margin of 26.91%. AxoGen’s quarterly revenue was up 29.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) earnings per share. On average, analysts expect that AxoGen, Inc will post -0.71 earnings per share for the current year.

AXGN has been the topic of a number of research reports. JMP Securities cut their price target on AxoGen from $43.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Canaccord Genuity set a $30.00 price target on AxoGen and gave the company a “buy” rating in a report on Wednesday, August 7th. William Blair downgraded AxoGen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. ValuEngine raised AxoGen from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, BTIG Research lowered their target price on AxoGen to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. AxoGen presently has a consensus rating of “Buy” and an average target price of $31.00.

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in AxoGen by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 1,104,983 shares of the medical equipment provider’s stock worth $21,878,000 after buying an additional 27,616 shares during the last quarter. Baillie Gifford & Co. increased its position in AxoGen by 54.0% during the first quarter. Baillie Gifford & Co. now owns 980,700 shares of the medical equipment provider’s stock worth $20,654,000 after buying an additional 343,900 shares during the last quarter. Peregrine Capital Management LLC increased its position in AxoGen by 33.9% during the second quarter. Peregrine Capital Management LLC now owns 630,197 shares of the medical equipment provider’s stock worth $12,478,000 after buying an additional 159,430 shares during the last quarter. William Blair Investment Management LLC acquired a new position in AxoGen during the second quarter worth approximately $9,529,000. Finally, Northern Trust Corp increased its position in AxoGen by 0.3% during the second quarter. Northern Trust Corp now owns 417,380 shares of the medical equipment provider’s stock worth $8,265,000 after buying an additional 1,116 shares during the last quarter. 87.46% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Company Profile

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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