UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 18,754 Shares of AxoGen, Inc. $AXGN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 30.9% in the second quarter, HoldingsChannel reports. The fund owned 79,524 shares of the medical equipment provider’s stock after purchasing an additional 18,754 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in AxoGen were worth $3,673,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp acquired a new position in shares of AxoGen during the second quarter worth $272,000. Hsbc Holdings PLC boosted its position in shares of AxoGen by 34.8% in the 2nd quarter. Hsbc Holdings PLC now owns 31,009 shares of the medical equipment provider’s stock worth $1,397,000 after purchasing an additional 8,002 shares in the last quarter. Wellington Management Group LLP grew its stake in AxoGen by 44.3% during the 2nd quarter. Wellington Management Group LLP now owns 1,391,654 shares of the medical equipment provider’s stock worth $64,280,000 after buying an additional 427,089 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in AxoGen during the 2nd quarter worth $295,000. Finally, Corient Private Wealth LP acquired a new position in AxoGen during the 2nd quarter valued at about $415,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Stock Up 1.2%

AXGN stock opened at $47.27 on Thursday. The firm’s fifty day simple moving average is $45.36 and its 200-day simple moving average is $40.36. The company has a market capitalization of $2.54 billion, a P/E ratio of -69.51 and a beta of 1.16. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04. AxoGen, Inc. has a 12 month low of $15.27 and a 12 month high of $52.91.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The firm had revenue of $69.73 million during the quarter, compared to analysts’ expectations of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. As a group, equities research analysts forecast that AxoGen, Inc. will post -0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

AXGN has been the subject of a number of research analyst reports. HC Wainwright increased their price target on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, August 26th. Citigroup restated a “market outperform” rating on shares of AxoGen in a report on Thursday, July 30th. Truist Financial initiated coverage on shares of AxoGen in a research report on Wednesday, August 26th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of AxoGen in a research note on Wednesday, July 29th. Ten 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

Insider Buying and Selling

In other news, Director Amy Wendell sold 13,353 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total value of $646,552.26. Following the sale, the director owned 107,976 shares in the company, valued at $5,228,197.92. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marc A. Began sold 67,500 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $47.34, for a total value of $3,195,450.00. Following the sale, the executive vice president directly owned 50,135 shares in the company, valued at approximately $2,373,390.90. This trade represents a 57.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 98,503 shares of company stock valued at $4,656,947 over the last quarter. 2.44% of the stock is currently owned by company 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.