Assenagon Asset Management S.A. Purchases 90,777 Shares of AxoGen, Inc. $AXGN

Assenagon Asset Management S.A. boosted its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,379,849 shares of the medical equipment provider’s stock after purchasing an additional 90,777 shares during the quarter. Assenagon Asset Management S.A. owned 2.99% of AxoGen worth $45,162,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new position in shares of AxoGen during the third quarter worth $27,000. Aquatic Capital Management LLC increased its position in shares of AxoGen by 287.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 1,269 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of AxoGen in the 3rd quarter valued at $43,000. Tower Research Capital LLC TRC raised its stake in AxoGen by 189.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider’s stock worth $55,000 after buying an additional 3,327 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in AxoGen during the 3rd quarter worth $64,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AxoGen

In other news, insider Erick Wayne Devinney sold 5,221 shares of AxoGen stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $32.84, for a total value of $171,457.64. Following the sale, the insider directly owned 262,781 shares in the company, valued at $8,629,728.04. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their target price on AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. HC Wainwright raised 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. Wells Fargo & Company assumed coverage on AxoGen in a report on Thursday, February 19th. They set an “overweight” rating and a $40.00 price objective on the stock. Citigroup reiterated an “outperform” rating on shares of AxoGen in a research report on Tuesday, February 24th. Finally, Lake Street Capital increased their target price on AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.38.

AxoGen Stock Performance

Shares of AxoGen stock opened at $32.61 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.11 and a quick ratio of 3.31. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -95.91 and a beta of 0.98. The stock’s 50-day moving average is $32.61 and its 200-day moving average is $27.05. AxoGen, Inc. has a one year low of $9.22 and a one year high of $36.00.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The firm had revenue of $59.90 million for the quarter, compared to the consensus estimate of $59.90 million. AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%. Equities analysts predict that AxoGen, Inc. will post -0.29 earnings per share 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.