AxoGen, Inc. $AXGN Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lessened its stake in AxoGen, Inc. (NASDAQ:AXGN) by 30.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,295,949 shares of the medical equipment provider’s stock after selling 561,401 shares during the period. Wasatch Advisors LP owned about 2.44% of AxoGen worth $59,860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXGN. First Light Asset Management LLC increased its holdings in shares of AxoGen by 1.2% during the 2nd quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock valued at $49,142,000 after purchasing an additional 55,028 shares in the last quarter. Vanguard Group Inc. boosted its holdings in AxoGen by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock worth $93,934,000 after buying an additional 190,557 shares in the last quarter. Morgan Stanley grew its position in AxoGen by 6.5% during the fourth quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock valued at $84,668,000 after buying an additional 157,029 shares during the period. Balyasny Asset Management L.P. grew its position in AxoGen by 183.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after buying an additional 1,250,968 shares during the period. Finally, Soleus Capital Management L.P. increased its holdings in AxoGen by 0.9% in the second quarter. Soleus Capital Management L.P. now owns 1,459,395 shares of the medical equipment provider’s stock valued at $15,834,000 after buying an additional 13,278 shares in the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

Insider Buying and Selling at AxoGen

In related news, Director Kathy Johnson Weiler sold 14,150 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $45.30, for a total value of $640,995.00. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AXGN has been the subject of a number of analyst reports. Lake Street Capital upped their price objective on shares of AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Wall Street Zen upgraded AxoGen from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Citigroup restated a “market outperform” rating on shares of AxoGen in a research note on Thursday, July 30th. HC Wainwright upped their price target on AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $48.00 price target on shares of AxoGen in a research report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, AxoGen has an average rating of “Moderate Buy” and a consensus price target of $51.00.

AxoGen Stock Performance

NASDAQ:AXGN opened at $48.48 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60. The company has a fifty day moving average of $43.01 and a two-hundred day moving average of $38.14. The stock has a market capitalization of $2.61 billion, a PE ratio of -71.29 and a beta of 1.11. AxoGen, Inc. has a fifty-two week low of $13.64 and a fifty-two week high of $49.12.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The business had revenue of $69.73 million for the quarter, compared to the consensus estimate of $67.10 million. As a group, research analysts forecast that AxoGen, Inc. will post -0.45 earnings per share for the current fiscal year.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.