Squarepoint Ops LLC Purchases 348,950 Shares of AxoGen, Inc. $AXGN

Squarepoint Ops LLC increased its position in AxoGen, Inc. (NASDAQ:AXGN) by 259.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 483,563 shares of the medical equipment provider’s stock after buying an additional 348,950 shares during the period. Squarepoint Ops LLC owned 1.05% of AxoGen worth $5,247,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State of Wyoming bought a new stake in AxoGen in the 2nd quarter worth approximately $69,000. Tower Research Capital LLC TRC grew its holdings in shares of AxoGen by 189.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 3,327 shares in the last quarter. Soleus Capital Management L.P. increased its position in AxoGen by 0.9% in the second 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 increased its position in AxoGen by 85.1% in the second 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, Lazard Asset Management LLC raised its stake in AxoGen by 1,377.3% during the second quarter. Lazard Asset Management LLC now owns 136,855 shares of the medical equipment provider’s stock valued at $1,484,000 after purchasing an additional 127,591 shares in the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

AxoGen Stock Performance

AxoGen stock opened at $29.78 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64. The firm has a market capitalization of $1.37 billion, a P/E ratio of -595.60 and a beta of 1.06. AxoGen, Inc. has a 1-year low of $9.22 and a 1-year high of $34.24. The company’s 50-day moving average is $23.55 and its 200 day moving average is $17.12.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. AxoGen had a negative return on equity of 1.90% and a negative net margin of 0.98%.The business had revenue of $60.08 million during the quarter, compared to analyst estimates of $56.90 million. Research analysts forecast that AxoGen, Inc. will post -0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AXGN. Raymond James Financial reissued an “outperform” rating and issued a $36.00 price objective on shares of AxoGen in a research note on Thursday, December 4th. Mizuho initiated coverage on AxoGen in a research report on Monday, December 1st. They issued an “outperform” rating and a $40.00 price target for the company. HC Wainwright boosted their price objective on AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. JMP Securities set a $34.00 price objective on AxoGen in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group lifted their target price on AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, AxoGen currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.56.

Insider Activity at AxoGen

In other news, CEO Michael D. Dale sold 61,463 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total value of $1,918,260.23. Following the transaction, the chief executive officer directly owned 88,537 shares in the company, valued at approximately $2,763,239.77. This represents a 40.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph A. Tyndall sold 25,108 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $30.98, for a total transaction of $777,845.84. The disclosure for this sale is available in the SEC filing. Insiders have sold 328,994 shares of company stock worth $8,894,215 over the last quarter. 2.78% of the stock is owned by insiders.

AxoGen Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.