Axogen’s chief innovation officer sells $264,442 in shares

Erick Wayne DeVinney, the Chief Innovation Officer at Axogen, Inc. (NASDAQ:AXGN), recently sold a significant portion of company stock. According to a recent SEC filing, DeVinney sold 15,111 shares at a price of $17.50 per share, totaling approximately $264,442. The transaction comes as Axogen shows strong momentum, with the stock delivering an impressive 129.56% return over the past year. According to InvestingPro analysis, the company currently trades above its Fair Value, though analysts maintain price targets between $24-$30.

The sale was executed on March 19, 2025, and was reportedly conducted to cover tax withholding obligations related to the vesting of restricted stock units. This move does not reflect a discretionary trade by DeVinney. Following this transaction, DeVinney holds 217,762 shares in the company. The company maintains a healthy financial position, with a strong current ratio of 3.24 and revenue growth of 17.81% in the last twelve months.

In addition to the sale, several transactions were recorded on March 16, 2025, involving the vesting of restricted stock units, resulting in the acquisition of 29,462 shares at no cost. These shares were added to DeVinney’s holdings in Axogen, a company specializing in electromedical and electrotherapeutic apparatus. With a market capitalization of $781.78 million, Axogen maintains a "GOOD" financial health score according to InvestingPro, which offers 11 additional investment tips and comprehensive analysis for this stock.

In other recent news, AxoGen, Inc. reported sales of $49.4 million, reflecting a 15.1% year-over-year increase, surpassing JMP Securities’ previous estimate of $46.1 million. The company has projected revenue growth of 15-17% for 2025, setting expectations between $215.4 million and $219.1 million, which is approximately $11 million above JMP Securities’ midpoint forecast. Lake Street Capital Markets initiated coverage on AxoGen with a Buy rating and a price target of $30, citing the company’s solid growth foundation and potential for sustained profitability. Cantor Fitzgerald maintained its Overweight rating and $24 price target, expressing optimism about AxoGen’s strategic growth plan for 2025-2028.

Citizens JMP analyst David Turkaly reiterated a Market Outperform rating with a $26 price target, highlighting the potential impact of the anticipated Biologics License Application (BLA) approval for the Avance Nerve Graft. The approval could grant AxoGen market exclusivity for over 12 years, enhancing commercial coverage and positioning the product as a standard of care. Turkaly also adjusted the price target from $20 to $26, acknowledging AxoGen’s financial performance and guidance for positive net income and cash flow in 2025. These developments underscore AxoGen’s strategic initiatives and financial prospects, as noted by various analyst firms.

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