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

Exchange Traded Concepts LLC cut its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 24.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,640 shares of the medical equipment provider’s stock after selling 18,672 shares during the quarter. Exchange Traded Concepts LLC owned about 0.13% of AxoGen worth $1,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of AxoGen by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after buying an additional 1,057 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in AxoGen by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,194 shares of the medical equipment provider’s stock valued at $176,000 after acquiring an additional 1,079 shares during the period. Primoris Wealth Advisors LLC boosted its stake in AxoGen by 9.0% during the second quarter. Primoris Wealth Advisors LLC now owns 15,700 shares of the medical equipment provider’s stock worth $170,000 after acquiring an additional 1,300 shares in the last quarter. Hsbc Holdings PLC grew its holdings in AxoGen by 6.5% in the first quarter. Hsbc Holdings PLC now owns 24,174 shares of the medical equipment provider’s stock worth $432,000 after purchasing an additional 1,468 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of AxoGen by 3.5% during the first quarter. Rhumbline Advisers now owns 60,264 shares of the medical equipment provider’s stock valued at $1,115,000 after purchasing an additional 2,032 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AXGN shares. Lake Street Capital boosted their price target on AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Jefferies Financial Group lifted their price objective on AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Raymond James Financial reissued an “outperform” rating and issued a $36.00 target price on shares of AxoGen in a report on Thursday, December 4th. Canaccord Genuity Group raised their price target on AxoGen from $27.00 to $37.00 and gave the company a “buy” rating in a report on Friday, December 5th. Finally, HC Wainwright lifted their price target on AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.56.

Insider Activity

In related news, Director Joseph A. Tyndall sold 25,108 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $30.98, for a total value of $777,845.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael D. Dale sold 61,463 shares of AxoGen stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $31.21, for a total transaction of $1,918,260.23. Following the completion of the sale, the chief executive officer directly owned 88,537 shares of the company’s stock, valued at approximately $2,763,239.77. This trade represents a 40.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 434,143 shares of company stock worth $11,995,476. 2.78% of the stock is owned by corporate insiders.

AxoGen Stock Up 0.5%

AxoGen stock opened at $32.80 on Friday. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $34.24. The stock has a fifty day simple moving average of $26.35 and a two-hundred day simple moving average of $18.40. The company has a current ratio of 4.09, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -656.00 and a beta of 1.06.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $0.12 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 company had revenue of $60.08 million for the quarter, compared to analysts’ expectations of $56.90 million. Equities analysts predict that AxoGen, Inc. will post -0.29 EPS for the current fiscal year.

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.