Exchange Traded Concepts LLC Sells 26,743 Shares of AxoGen, Inc. $AXGN

Exchange Traded Concepts LLC lowered its stake in AxoGen, Inc. (NASDAQ:AXGN) by 45.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,897 shares of the medical equipment provider’s stock after selling 26,743 shares during the period. Exchange Traded Concepts LLC owned approximately 0.07% of AxoGen worth $1,044,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AXGN. HighMark Wealth Management LLC increased its position in shares of AxoGen by 88.7% during the 3rd quarter. HighMark Wealth Management LLC now owns 185,085 shares of the medical equipment provider’s stock valued at $3,302,000 after purchasing an additional 87,000 shares during the last quarter. Brown Capital Management LLC bought a new stake in AxoGen in the third quarter worth $11,500,000. First Eagle Investment Management LLC lifted 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 worth $7,704,000 after buying an additional 253,888 shares during the last quarter. Legal & General Group Plc boosted its stake in AxoGen by 81.3% during the second quarter. Legal & General Group Plc now owns 185,481 shares of the medical equipment provider’s stock worth $2,012,000 after buying an additional 83,175 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in AxoGen by 26.0% during the third quarter. Assenagon Asset Management S.A. now owns 1,289,072 shares of the medical equipment provider’s stock worth $22,997,000 after buying an additional 265,950 shares during the period. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AxoGen

In other AxoGen news, insider Erick Wayne Devinney sold 5,221 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $32.84, for a total value of $171,457.64. Following the transaction, the insider directly owned 262,781 shares in the company, valued at $8,629,728.04. This represents a 1.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.78% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AXGN shares. Canaccord Genuity Group reissued a “buy” rating and issued a $40.00 target price on shares of AxoGen in a research note on Monday, March 30th. Citigroup reaffirmed an “outperform” rating on shares of AxoGen in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of AxoGen in a report on Monday, December 29th. Wall Street Zen lowered shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $41.00 price objective on shares of AxoGen in a research note on Monday, February 23rd. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AxoGen has an average rating of “Moderate Buy” and an average price target of $39.75.

AxoGen Stock Performance

AXGN stock opened at $34.44 on Friday. AxoGen, Inc. has a twelve month low of $9.22 and a twelve month high of $36.00. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -101.29 and a beta of 0.98. The business’s fifty day simple moving average is $32.80 and its two-hundred day simple moving average is $27.82. The company has a quick ratio of 3.31, a current ratio of 5.11 and a debt-to-equity ratio of 0.51.

AxoGen (NASDAQ:AXGN) last issued its earnings results 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 company had revenue of $59.90 million for the quarter, compared to analysts’ expectations of $59.90 million. AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. Analysts predict that AxoGen, Inc. will post -0.29 earnings per share for the current year.

AxoGen Company 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.