First Light Asset Management LLC Has $103.57 Million Stock Position in AxoGen, Inc. $AXGN

First Light Asset Management LLC increased its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN) by 28.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,805,730 shares of the medical equipment provider’s stock after buying an additional 1,276,487 shares during the period. AxoGen makes up approximately 9.8% of First Light Asset Management LLC’s portfolio, making the stock its biggest position. First Light Asset Management LLC owned 0.13% of AxoGen worth $103,574,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. ArrowMark Colorado Holdings LLC boosted its stake in AxoGen by 20.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,958,406 shares of the medical equipment provider’s stock valued at $34,938,000 after acquiring an additional 332,498 shares during the period. Balyasny Asset Management L.P. raised its position in shares of AxoGen by 183.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock worth $20,953,000 after purchasing an additional 1,250,968 shares during the period. Soleus Capital Management L.P. lifted its holdings in shares of AxoGen by 0.9% in the 2nd quarter. Soleus Capital Management L.P. now owns 1,459,395 shares of the medical equipment provider’s stock worth $15,834,000 after purchasing an additional 13,278 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of AxoGen by 85.1% in the 2nd quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider’s stock worth $15,557,000 after purchasing an additional 659,149 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in AxoGen by 26.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,072 shares of the medical equipment provider’s stock valued at $22,997,000 after purchasing an additional 265,950 shares during the period. Institutional investors own 80.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Amy Mcbride Wendell sold 43,684 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $29.31, for a total transaction of $1,280,378.04. Following the transaction, the director directly owned 93,826 shares of the company’s stock, valued at approximately $2,750,040.06. This trade represents a 31.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathy Johnson Weiler sold 46,653 shares of AxoGen stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $29.55, for a total transaction of $1,378,596.15. Additional details regarding this sale are available in the official SEC disclosure. 2.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AXGN has been the subject of a number of recent research reports. Wells Fargo & Company began coverage on AxoGen in a research note on Thursday, February 19th. They set an “overweight” rating and a $40.00 price objective for the company. Citizens Jmp raised their target price on AxoGen from $34.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 24th. HC Wainwright boosted their price target on shares of AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a report on Friday, December 5th. Jefferies Financial Group upped their price target on shares of AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Finally, Wall Street Zen cut shares of AxoGen from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, AxoGen presently has an average rating of “Moderate Buy” and a consensus price target of $39.38.

AxoGen Stock Performance

Shares of AXGN stock opened at $32.34 on Monday. AxoGen, Inc. has a 12-month low of $9.22 and a 12-month high of $36.00. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -95.11 and a beta of 0.98. The business has a 50 day simple moving average of $32.65 and a 200 day simple moving average of $26.26. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.11 and a quick ratio of 3.31.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $59.90 million during the quarter, compared to analyst estimates of $59.90 million. AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. On average, equities research analysts anticipate that AxoGen, Inc. will post -0.29 EPS for the current year.

AxoGen Company 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.