Driehaus Capital Management LLC Raises Stake in AxoGen, Inc. (NASDAQ:AXGN)

Driehaus Capital Management LLC lifted its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 166.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 954,439 shares of the medical equipment provider’s stock after acquiring an additional 595,579 shares during the period. Driehaus Capital Management LLC owned 2.17% of AxoGen worth $15,729,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in AxoGen by 2,912.3% during the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock worth $7,697,000 after purchasing an additional 530,775 shares during the period. Barclays PLC increased its holdings in shares of AxoGen by 119.3% during the 3rd quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock worth $1,010,000 after buying an additional 39,182 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of AxoGen during the 4th quarter valued at approximately $188,000. New York State Common Retirement Fund grew its position in AxoGen by 63.7% in the fourth quarter. New York State Common Retirement Fund now owns 69,629 shares of the medical equipment provider’s stock worth $1,147,000 after acquiring an additional 27,101 shares during the period. Finally, Calamos Advisors LLC acquired a new stake in AxoGen during the fourth quarter worth $523,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Stock Down 22.9 %

Shares of NASDAQ:AXGN opened at $12.63 on Friday. The firm has a market capitalization of $575.15 million, a PE ratio of -39.47 and a beta of 1.19. AxoGen, Inc. has a 1 year low of $5.65 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The firm’s 50-day moving average is $16.89 and its two-hundred day moving average is $16.30.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Thursday, May 8th. The medical equipment provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.07). AxoGen had a negative return on equity of 14.91% and a negative net margin of 7.91%. Analysts predict that AxoGen, Inc. will post -0.29 EPS for the current year.

Insider Activity

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the sale, the director now directly owns 97,899 shares in the company, valued at $1,959,937.98. This trade represents a 4.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the transaction, the insider now directly owns 217,762 shares of the company’s stock, valued at approximately $3,810,835. This represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on AXGN shares. Canaccord Genuity Group upped their price target on AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $24.00 price target on shares of AxoGen in a research report on Wednesday, March 5th. Finally, Lake Street Capital started coverage on shares of AxoGen in a research note on Monday, March 17th. They issued a “buy” rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $22.60.

AxoGen Profile

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.