Insider Selling: AxoGen, Inc. (NASDAQ:AXGN) VP Sells $46,333.44 in Stock

AxoGen, Inc. (NASDAQ:AXGN) VP Michael Patrick Donovan sold 6,033 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $7.68, for a total value of $46,333.44. Following the completion of the sale, the vice president now directly owns 37,992 shares of the company’s stock, valued at approximately $291,778.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Michael Patrick Donovan also recently made the following trade(s):

• On Thursday, March 7th, Michael Patrick Donovan sold 36,310 shares of AxoGen stock. The stock was sold at an average price of $8.81, for a total transaction of $319,891.10.

AxoGen Stock Up 2.9 %

NASDAQ:AXGN opened at $7.77 on Thursday. The company has a current ratio of 2.89, a quick ratio of 2.14 and a debt-to-equity ratio of 0.71. The firm’s fifty day moving average price is $9.26 and its two-hundred day moving average price is $7.03. AxoGen, Inc. has a one year low of $3.45 and a one year high of $10.83.

Hedge Funds Weigh In On AxoGen

Several institutional investors and hedge funds have recently modified their holdings of AXGN. Tocqueville Asset Management L.P. grew its stake in shares of AxoGen by 98.7% in the third quarter. Tocqueville Asset Management L.P. now owns 934,900 shares of the medical equipment provider’s stock valued at $4,674,000 after acquiring an additional 464,500 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of AxoGen by 590.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 509,214 shares of the medical equipment provider’s stock valued at $3,478,000 after acquiring an additional 435,481 shares in the last quarter. Soleus Capital Management L.P. grew its stake in shares of AxoGen by 77.9% in the fourth quarter. Soleus Capital Management L.P. now owns 755,998 shares of the medical equipment provider’s stock valued at $7,545,000 after acquiring an additional 331,000 shares in the last quarter. SCW Capital Management LP acquired a new position in shares of AxoGen in the first quarter valued at about $2,170,000. Finally, ArrowMark Colorado Holdings LLC grew its stake in shares of AxoGen by 7.2% in the second quarter. ArrowMark Colorado Holdings LLC now owns 3,921,033 shares of the medical equipment provider’s stock valued at $35,799,000 after acquiring an additional 263,422 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AXGN. Cantor Fitzgerald restated an “overweight” rating and set a $12.00 target price on shares of AxoGen in a report on Friday, January 19th. Canaccord Genuity Group restated a “buy” rating and set a $11.00 target price on shares of AxoGen in a report on Thursday, December 7th. Finally, StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th.

About AxoGen

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.