Exchange Traded Concepts LLC Trims Position in AxoGen, Inc. $AXGN

Exchange Traded Concepts LLC decreased its position in AxoGen, Inc. (NASDAQ:AXGN) by 24.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,640 shares of the medical equipment provider’s stock after selling 18,672 shares during the quarter. Exchange Traded Concepts LLC’s holdings in AxoGen were worth $1,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hsbc Holdings PLC increased its position in shares of AxoGen by 6.5% during the 1st quarter. Hsbc Holdings PLC now owns 24,174 shares of the medical equipment provider’s stock valued at $432,000 after purchasing an additional 1,468 shares during the last quarter. Jump Financial LLC purchased a new position in shares of AxoGen in the first quarter worth approximately $495,000. Trexquant Investment LP grew its position in AxoGen by 827.7% during the first quarter. Trexquant Investment LP now owns 183,495 shares of the medical equipment provider’s stock valued at $3,395,000 after buying an additional 163,715 shares during the period. Driehaus Capital Management LLC increased its holdings in AxoGen by 22.8% during the first quarter. Driehaus Capital Management LLC now owns 1,172,029 shares of the medical equipment provider’s stock valued at $21,683,000 after buying an additional 217,590 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in AxoGen by 11.3% during the first quarter. Panagora Asset Management Inc. now owns 219,841 shares of the medical equipment provider’s stock valued at $4,067,000 after buying an additional 22,333 shares during the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AXGN. Jefferies Financial Group lifted their price target on shares of AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Lake Street Capital lifted their target price on AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Raymond James Financial reissued an “outperform” rating and set a $36.00 price target on shares of AxoGen in a report on Thursday, December 4th. Canaccord Genuity Group upped their price target on AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research note on Monday, December 22nd. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.56.

Insider Activity at AxoGen

In related news, CFO Lindsey Marie Hartley sold 14,812 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $29.86, for a total value of $442,286.32. Following the transaction, the chief financial officer directly owned 31,376 shares of the company’s stock, valued at approximately $936,887.36. The trade was a 32.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph A. Tyndall sold 25,108 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $30.98, for a total value of $777,845.84. The disclosure for this sale is available in the SEC filing. Insiders have sold 434,143 shares of company stock worth $11,995,476 in the last three months. Corporate insiders own 2.78% of the company’s stock.

AxoGen Trading Up 0.5%

Shares of AxoGen stock opened at $32.80 on Friday. AxoGen, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $34.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.64 and a current ratio of 4.09. The company has a market capitalization of $1.51 billion, a P/E ratio of -656.00 and a beta of 1.06. The company has a fifty day moving average of $26.35 and a 200 day moving average of $18.40.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $56.90 million. On average, sell-side analysts anticipate that AxoGen, Inc. will post -0.29 earnings per share for the current fiscal year.

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.