Wasatch Advisors LP Boosts Position in AxoGen, Inc. $AXGN

Wasatch Advisors LP boosted its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 101.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,857,350 shares of the medical equipment provider’s stock after buying an additional 933,778 shares during the quarter. Wasatch Advisors LP’s holdings in AxoGen were worth $61,534,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Diversified Trust Co grew its stake in AxoGen by 15.1% in the 1st quarter. Diversified Trust Co now owns 12,998 shares of the medical equipment provider’s stock worth $431,000 after acquiring an additional 1,709 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of AxoGen during the fourth quarter valued at approximately $52,000. Invesco Ltd. raised its stake in shares of AxoGen by 86.1% during the fourth quarter. Invesco Ltd. now owns 189,345 shares of the medical equipment provider’s stock valued at $6,197,000 after acquiring an additional 87,622 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of AxoGen by 41.7% in the fourth 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 during the period. Finally, XTX Topco Ltd purchased a new stake in shares of AxoGen in the fourth quarter valued at approximately $228,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AXGN has been the topic of several research analyst reports. Lake Street Capital increased their price objective on AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. HC Wainwright lifted 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 upgraded AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Canaccord Genuity Group increased their price target on AxoGen from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Citizens Jmp raised their price target on AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.50.

AxoGen Price Performance

NASDAQ AXGN opened at $44.93 on Friday. 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 firm’s 50 day moving average price is $41.50 and its 200-day moving average price is $35.60. AxoGen, Inc. has a 52-week low of $10.20 and a 52-week high of $46.00. The company has a market cap of $2.39 billion, a PE ratio of -70.20 and a beta of 1.12.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The business had revenue of $61.46 million during the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. Sell-side analysts forecast that AxoGen, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathy Johnson Weiler sold 16,344 shares of AxoGen stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total value of $720,606.96. Following the transaction, the director directly owned 16,344 shares in the company, valued at approximately $720,606.96. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy Mcbride Wendell sold 1,647 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $42.60, for a total value of $70,162.20. Following the completion of the transaction, the director directly owned 93,826 shares of the company’s stock, valued at approximately $3,996,987.60. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 29,041 shares of company stock worth $1,268,792. 2.44% of the stock is currently owned by company insiders.

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.