Investors Purchase Large Volume of Put Options on AxoGen (AXGN)

AxoGen, Inc (NASDAQ:AXGN) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 1,380 put options on the stock. This represents an increase of approximately 1,669% compared to the typical volume of 78 put options.

AXGN has been the subject of several research analyst reports. BidaskClub cut AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 12th. Leerink Swann reiterated an “outperform” rating and set a $70.00 target price on shares of AxoGen in a research report on Tuesday, June 26th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $45.00 target price on shares of AxoGen in a research report on Thursday, August 9th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $44.67.

In other AxoGen news, Director Amy Mcbride Wendell bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was purchased at an average price of $36.89 per share, for a total transaction of $184,450.00. Following the completion of the transaction, the director now owns 18,333 shares of the company’s stock, valued at approximately $676,304.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.86% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in AxoGen by 41.6% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,575 shares of the medical equipment provider’s stock valued at $167,000 after buying an additional 1,345 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in AxoGen by 16.9% during the second quarter. Metropolitan Life Insurance Co. NY now owns 10,929 shares of the medical equipment provider’s stock valued at $549,000 after buying an additional 1,579 shares during the last quarter. Northern Trust Corp boosted its stake in AxoGen by 0.5% during the first quarter. Northern Trust Corp now owns 332,844 shares of the medical equipment provider’s stock valued at $12,149,000 after buying an additional 1,649 shares during the last quarter. Financial Architects Inc boosted its stake in AxoGen by 29.6% during the second quarter. Financial Architects Inc now owns 7,391 shares of the medical equipment provider’s stock valued at $371,000 after buying an additional 1,686 shares during the last quarter. Finally, MetLife Investment Advisors LLC boosted its stake in AxoGen by 12.8% during the second quarter. MetLife Investment Advisors LLC now owns 15,476 shares of the medical equipment provider’s stock valued at $778,000 after buying an additional 1,758 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

NASDAQ:AXGN opened at $35.47 on Friday. AxoGen has a 12-month low of $19.35 and a 12-month high of $56.85. The stock has a market cap of $1.41 billion, a P/E ratio of -114.39 and a beta of -0.39.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, August 1st. The medical equipment provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). AxoGen had a negative net margin of 24.96% and a negative return on equity of 26.50%. The firm had revenue of $20.58 million for the quarter, compared to the consensus estimate of $21.25 million. During the same period in the previous year, the company posted ($0.04) earnings per share. AxoGen’s quarterly revenue was up 35.7% on a year-over-year basis. As a group, analysts forecast that AxoGen will post -0.61 EPS for the current fiscal year.

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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