Allspring Global Investments Holdings LLC Buys Shares of 25,792 AxoGen, Inc. $AXGN

Allspring Global Investments Holdings LLC bought a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 25,792 shares of the medical equipment provider’s stock, valued at approximately $800,000. Allspring Global Investments Holdings LLC owned about 0.06% of AxoGen as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new stake in AxoGen in the third quarter valued at $27,000. Aquatic Capital Management LLC lifted its stake in AxoGen by 287.8% in the third 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 during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of AxoGen during the third quarter valued at about $43,000. Tower Research Capital LLC TRC raised its stake in shares of AxoGen by 189.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 3,327 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of AxoGen during the third quarter valued at about $64,000. 80.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AXGN shares. Raymond James Financial restated an “outperform” rating and set a $41.00 price objective on shares of AxoGen in a research note on Monday, February 23rd. Canaccord Genuity Group restated a “buy” rating and set a $40.00 price objective on shares of AxoGen in a research note on Monday, March 30th. Citigroup restated an “outperform” rating on shares of AxoGen in a research note on Tuesday, February 24th. Wall Street Zen cut shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, Citizens Jmp lifted their price objective on shares of AxoGen from $34.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $39.75.

Insiders Place Their Bets

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

AxoGen Trading Down 3.2%

Shares of AXGN opened at $31.96 on Friday. The business’s 50-day moving average price is $32.61 and its 200 day moving average price is $28.36. The stock has a market capitalization of $1.66 billion, a P/E ratio of -94.00 and a beta of 0.98. AxoGen, Inc. has a 1-year low of $9.22 and a 1-year high of $36.00. The company has a current ratio of 5.11, a quick ratio of 3.31 and a debt-to-equity ratio of 0.51.

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