Axogen Shares Dip Ahead of Holiday as Broader Market Holds Up
Axogen Inc. shares closed down 1% at $40.90 on Friday, underperforming a rising U.S. market before the Memorial Day holiday. The drop came despite no new company news and recent analyst price target hikes after strong first-quarter revenue growth. Axogen reported a net loss of $19.6 million but positive adjusted income. The FDA approved its Avance Nerve Graft in December, granting potential 12-year U.S. exclusivity.