GSA Capital Partners LLP purchased a new position in AxoGen, Inc. (NASDAQ:AXGN – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,441 shares of the medical equipment provider’s stock, valued at approximately $806,000.
Several other institutional investors also recently modified their holdings of the stock. Stephens Investment Management Group LLC acquired a new stake in shares of AxoGen during the fourth quarter worth $5,043,000. Legato Capital Management LLC acquired a new position in shares of AxoGen in the 4th quarter valued at $1,323,000. SummitTX Capital L.P. purchased a new position in AxoGen in the 1st quarter worth about $7,769,000. Bessemer Group Inc. increased its stake in AxoGen by 41.9% in the 1st quarter. Bessemer Group Inc. now owns 660,553 shares of the medical equipment provider’s stock worth $21,885,000 after purchasing an additional 194,949 shares in the last quarter. Finally, Westover Capital Advisors LLC acquired a new stake in AxoGen during the 4th quarter worth about $500,000. Institutional investors own 80.29% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have commented on AXGN shares. Truist Financial set a $55.00 price objective on shares of AxoGen in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Jefferies Financial Group restated a “buy” rating and issued a $55.00 price target on shares of AxoGen in a research report on Wednesday, July 29th. Wells Fargo & Company upped their price target on shares of AxoGen from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, HC Wainwright raised their price objective on shares of AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.
AxoGen Stock Performance
AXGN stock opened at $50.19 on Wednesday. The firm has a 50 day simple moving average of $43.72 and a 200 day simple moving average of $38.69. AxoGen, Inc. has a 52 week low of $13.64 and a 52 week high of $50.66. The stock has a market cap of $2.70 billion, a P/E ratio of -73.81 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60.
AxoGen (NASDAQ:AXGN – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share 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 firm had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. Research analysts anticipate that AxoGen, Inc. will post -0.45 earnings per share for the current fiscal year.
Insider Transactions at AxoGen
In related news, Director Kathy Johnson Weiler sold 14,150 shares of AxoGen stock in a transaction on Friday, August 7th. The stock was sold at an average price of $45.30, for a total transaction of $640,995.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marc A. Began sold 67,500 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $47.34, for a total value of $3,195,450.00. Following the completion of the transaction, the executive vice president owned 50,135 shares in the company, valued at $2,373,390.90. This trade represents a 57.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 95,003 shares of company stock valued at $4,482,997. 2.44% of the stock is owned by insiders.
About AxoGen
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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