SG Americas Securities LLC lessened its position in AxoGen, Inc. (NASDAQ:AXGN – Free Report) by 44.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,644 shares of the medical equipment provider’s stock after selling 28,836 shares during the quarter. SG Americas Securities LLC’s holdings in AxoGen were worth $1,214,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Diversified Trust Co increased its position in shares of AxoGen by 15.1% during the first quarter. Diversified Trust Co now owns 12,998 shares of the medical equipment provider’s stock worth $431,000 after purchasing an additional 1,709 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in AxoGen in the 4th quarter valued at $52,000. Invesco Ltd. raised its stake in AxoGen by 86.1% in the 4th quarter. Invesco Ltd. now owns 189,345 shares of the medical equipment provider’s stock valued at $6,197,000 after purchasing an additional 87,622 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in AxoGen by 41.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,857 shares of the medical equipment provider’s stock valued at $503,000 after purchasing an additional 4,664 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in AxoGen in the 4th quarter valued at $228,000. 80.29% of the stock is owned by institutional investors and hedge funds.
AxoGen Price Performance
NASDAQ:AXGN opened at $45.89 on Friday. AxoGen, Inc. has a one year low of $10.71 and a one year high of $46.95. The stock has a market cap of $2.44 billion, a PE ratio of -71.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10. The stock has a 50 day moving average price of $42.32 and a 200 day moving average price of $36.12.
Insiders Place Their Bets
In other news, Director John Johnson sold 11,050 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $43.26, for a total transaction of $478,023.00. Following the transaction, the director owned 11,050 shares of the company’s stock, valued at approximately $478,023. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy Mcbride Wendell sold 1,647 shares of the company’s 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 sale, the director directly owned 93,826 shares of the company’s stock, valued at $3,996,987.60. This represents a 1.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,041 shares of company stock valued at $1,268,792 in the last three months. 2.44% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on AXGN. Citigroup reaffirmed an “outperform” rating on shares of AxoGen in a research note on Wednesday, April 29th. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. Lake Street Capital raised their price target on shares of AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. HC Wainwright raised their price target on shares of AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AxoGen in a research report on Friday, May 29th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AxoGen currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.
View Our Latest Research Report on AXGN
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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