Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in shares of AxoGen, Inc. (NASDAQ:AXGN – Free Report) during the fourth quarter, Holdings Channel reports. The fund bought 19,202 shares of the medical equipment provider’s stock, valued at approximately $628,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. First Eagle Investment Management LLC increased its position in AxoGen by 142.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 431,843 shares of the medical equipment provider’s stock valued at $7,704,000 after purchasing an additional 253,888 shares during the period. Royce & Associates LP bought a new position in shares of AxoGen in the 3rd quarter worth about $3,587,000. Stephens Investment Management Group LLC acquired a new position in shares of AxoGen in the 4th quarter valued at about $5,043,000. SG Americas Securities LLC boosted its position in shares of AxoGen by 459.9% during the 4th quarter. SG Americas Securities LLC now owns 65,480 shares of the medical equipment provider’s stock valued at $2,143,000 after purchasing an additional 53,786 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of AxoGen by 7.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,379,849 shares of the medical equipment provider’s stock valued at $45,162,000 after purchasing an additional 90,777 shares in the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.
AxoGen Stock Performance
Shares of AXGN opened at $42.39 on Friday. The stock has a 50 day moving average of $38.15 and a 200 day moving average of $33.89. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -66.23 and a beta of 1.12. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $45.83. The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on AXGN shares. Wells Fargo & Company raised their price target on shares of AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Lake Street Capital increased 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. HC Wainwright boosted their target price on AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Zacks Research raised AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Finally, Citizens Jmp increased their price target on AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, AxoGen presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.
Read Our Latest Report on AXGN
Insider Activity at AxoGen
In related news, Director Amy Mcbride Wendell sold 1,647 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $42.60, for a total transaction of $70,162.20. Following the completion of the transaction, the director owned 93,826 shares in the company, valued at approximately $3,996,987.60. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Erick Wayne Devinney sold 5,221 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $32.84, for a total transaction of $171,457.64. Following the sale, the insider owned 262,781 shares of the company’s stock, valued at $8,629,728.04. This trade represents a 1.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,262 shares of company stock valued at $1,440,250 over the last quarter. Corporate insiders own 2.44% of the company’s stock.
AxoGen 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.
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