Gabelli Funds LLC Has $1.74 Million Holdings in AxoGen, Inc. $AXGN

Gabelli Funds LLC cut its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 25.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,200 shares of the medical equipment provider’s stock after selling 17,938 shares during the quarter. Gabelli Funds LLC owned approximately 0.12% of AxoGen worth $1,741,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Brown Capital Management LLC bought a new position in AxoGen in the third quarter valued at about $11,500,000. First Eagle Investment Management LLC raised its position in AxoGen by 142.7% in the third quarter. First Eagle Investment Management LLC now owns 431,843 shares of the medical equipment provider’s stock valued at $7,704,000 after purchasing an additional 253,888 shares during the last quarter. Royce & Associates LP bought a new position in AxoGen in the third quarter valued at about $3,587,000. SG Americas Securities LLC raised its position in AxoGen by 459.9% in the fourth quarter. SG Americas Securities LLC now owns 65,480 shares of the medical equipment provider’s stock valued at $2,143,000 after purchasing an additional 53,786 shares during the last quarter. Finally, Stephens Investment Management Group LLC bought a new position in AxoGen in the fourth quarter valued at about $5,043,000. 80.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AXGN shares. HC Wainwright increased their target price on AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Zacks Research downgraded AxoGen from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Citigroup reiterated an “outperform” rating on shares of AxoGen in a research report on Wednesday, April 29th. Canaccord Genuity Group raised their price objective on AxoGen from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Citizens Jmp raised their price objective on AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.50.

Insider Transactions at AxoGen

In related news, Director Amy Mcbride Wendell sold 1,647 shares of AxoGen stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $42.60, for a total transaction of $70,162.20. Following the transaction, the director owned 93,826 shares of the company’s stock, valued at $3,996,987.60. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathy Johnson Weiler sold 16,344 shares of AxoGen stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $44.09, for a total value of $720,606.96. Following the transaction, the director directly owned 16,344 shares in the company, valued at approximately $720,606.96. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 34,262 shares of company stock worth $1,440,250. 2.44% of the stock is currently owned by insiders.

AxoGen Trading Down 1.0%

Shares of AXGN stock opened at $40.90 on Friday. The company has a market cap of $2.18 billion, a P/E ratio of -63.91 and a beta of 1.17. The stock has a 50 day simple moving average of $36.62 and a two-hundred day simple moving average of $32.78. 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, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $45.83.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%.The business had revenue of $61.46 million during the quarter, compared to the consensus estimate of $57.85 million. Research analysts forecast that AxoGen, Inc. will post -0.3 earnings per share for the current 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.