AxoGen, Inc. $AXGN Stock Position Lessened by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 68.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,671 shares of the medical equipment provider’s stock after selling 134,266 shares during the quarter. GSA Capital Partners LLP’s holdings in AxoGen were worth $1,118,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in AxoGen by 41.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 11,430 shares of the medical equipment provider’s stock valued at $204,000 after buying an additional 3,353 shares in the last quarter. Cornerstone Investment Partners LLC acquired a new stake in shares of AxoGen in the 3rd quarter worth approximately $182,000. Bessemer Group Inc. bought a new position in shares of AxoGen in the third quarter valued at approximately $14,468,000. Brown Capital Management LLC bought a new position in shares of AxoGen in the third quarter valued at approximately $11,500,000. Finally, Principal Financial Group Inc. increased its stake in shares of AxoGen by 69.7% during the third quarter. Principal Financial Group Inc. now owns 51,130 shares of the medical equipment provider’s stock valued at $912,000 after acquiring an additional 21,002 shares during the period. Institutional investors and hedge funds own 80.29% of the company’s stock.

Analysts Set New Price Targets

AXGN has been the subject of a number of research analyst reports. Wall Street Zen upgraded AxoGen from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Wells Fargo & Company started coverage on AxoGen in a report on Thursday. They issued an “overweight” rating and a $40.00 price objective for the company. Jefferies Financial Group lifted their target price on AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Weiss Ratings restated a “sell (e+)” rating on shares of AxoGen in a report on Monday, December 29th. Finally, Citizens Jmp set a $34.00 price target on shares of AxoGen in a research report on Thursday, October 30th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.22.

AxoGen Trading Down 0.7%

NASDAQ AXGN opened at $35.01 on Friday. The firm’s 50 day moving average price is $32.81 and its two-hundred day moving average price is $24.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.64 and a current ratio of 4.09. AxoGen, Inc. has a twelve month low of $9.22 and a twelve month high of $36.00. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -700.20 and a beta of 1.00.

Insider Buying and Selling at AxoGen

In related news, CEO Michael D. Dale sold 61,463 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $31.21, for a total transaction of $1,918,260.23. Following the transaction, the chief executive officer directly owned 88,537 shares of the company’s stock, valued at approximately $2,763,239.77. The trade was a 40.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathy Johnson Weiler sold 46,653 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $29.55, for a total value of $1,378,596.15. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 301,680 shares of company stock valued at $9,174,052 in the last ninety days. Company insiders own 2.78% 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.