SummitTX Capital L.P. Takes $7.77 Million Position in AxoGen, Inc. $AXGN

SummitTX Capital L.P. bought a new position in AxoGen, Inc. (NASDAQ:AXGN) in the 1st quarter, Holdings Channel reports. The firm bought 234,495 shares of the medical equipment provider’s stock, valued at approximately $7,769,000.

A number of other large investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its holdings in AxoGen by 1.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock valued at $703,000 after purchasing an additional 371 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of AxoGen by 6.2% during the first quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider’s stock valued at $296,000 after buying an additional 525 shares during the period. Arax Advisory Partners grew its stake in shares of AxoGen by 362.4% during the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 819 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of AxoGen by 4.2% during the fourth quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock valued at $688,000 after buying an additional 823 shares during the last quarter. Finally, MCF Advisors LLC purchased a new stake in shares of AxoGen in the fourth quarter worth approximately $30,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Stock Performance

Shares of NASDAQ:AXGN opened at $39.49 on Monday. The firm has a market cap of $2.10 billion, a PE ratio of -61.70 and a beta of 1.09. The firm’s 50 day simple moving average is $42.18 and its 200-day simple moving average is $37.09. AxoGen, Inc. has a one year low of $12.39 and a one year high of $46.95. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. The firm had revenue of $61.46 million during the quarter, compared to analysts’ expectations of $57.85 million. As a group, equities analysts predict that AxoGen, Inc. will post -0.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AXGN. Wells Fargo & Company raised their price target on AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Lake Street Capital upped their price objective on AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. HC Wainwright increased their target price on AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Canaccord Genuity Group lifted their target price on AxoGen from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Sunday. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Insiders Place Their Bets

In other AxoGen news, Director Amy Mcbride Wendell sold 1,647 shares of the company’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 sale, the director directly owned 93,826 shares in the company, valued at approximately $3,996,987.60. This represents a 1.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Johnson sold 11,050 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total value of $478,023.00. Following the transaction, the director directly owned 11,050 shares in the company, valued at $478,023. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders 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.