Driehaus Capital Management LLC lowered its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 672,862 shares of the medical equipment provider’s stock after selling 7,872 shares during the period. AxoGen accounts for 0.7% of Driehaus Capital Management LLC’s portfolio, making the stock its 27th biggest holding. Driehaus Capital Management LLC owned about 1.97% of AxoGen worth $19,042,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Pennsylvania Trust Co increased its holdings in shares of AxoGen by 7.0% in the 4th quarter. Pennsylvania Trust Co now owns 152,370 shares of the medical equipment provider’s stock valued at $4,312,000 after purchasing an additional 10,000 shares during the period. California Public Employees Retirement System boosted its position in AxoGen by 4.9% during the third quarter. California Public Employees Retirement System now owns 137,536 shares of the medical equipment provider’s stock worth $2,661,000 after purchasing an additional 6,436 shares during the period. Neuberger Berman Group LLC boosted its position in AxoGen by 133.3% during the third quarter. Neuberger Berman Group LLC now owns 28,000 shares of the medical equipment provider’s stock worth $542,000 after purchasing an additional 16,000 shares during the period. Proficio Capital Partners LLC boosted its position in AxoGen by 5.6% during the fourth quarter. Proficio Capital Partners LLC now owns 67,600 shares of the medical equipment provider’s stock worth $1,913,000 after purchasing an additional 3,600 shares during the period. Finally, New York State Common Retirement Fund boosted its position in AxoGen by 26.6% during the second quarter. New York State Common Retirement Fund now owns 31,400 shares of the medical equipment provider’s stock worth $526,000 after purchasing an additional 6,599 shares during the period. 68.01% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. Lake Street Capital set a $38.00 price objective on AxoGen and gave the company a “buy” rating in a research report on Friday, March 2nd. JMP Securities raised their target price on AxoGen from $27.00 to $34.00 and gave the stock a “market outperform” rating in a research report on Thursday, March 1st. BidaskClub upgraded AxoGen from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 23rd. William Blair started coverage on AxoGen in a research note on Monday, February 5th. They set an “outperform” rating for the company. Finally, Cantor Fitzgerald set a $37.00 target price on AxoGen and gave the company a “buy” rating in a research note on Monday, January 8th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $31.71.
AxoGen, Inc. (NASDAQ AXGN) traded up $0.55 during trading hours on Wednesday, hitting $35.70. The stock had a trading volume of 193,334 shares, compared to its average volume of 308,071. AxoGen, Inc. has a fifty-two week low of $9.70 and a fifty-two week high of $36.15. The company has a market cap of $1,188.42, a PE ratio of -117.16 and a beta of 0.10. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.07 and a quick ratio of 3.53.
AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, February 28th. The medical equipment provider reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02. The business had revenue of $16.97 million for the quarter, compared to analyst estimates of $16.38 million. AxoGen had a negative return on equity of 70.63% and a negative net margin of 17.29%. AxoGen’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) EPS. equities analysts anticipate that AxoGen, Inc. will post -0.28 earnings per share for the current year.
In related news, Director Jamie Mark Grooms sold 63,395 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $27.67, for a total transaction of $1,754,139.65. Following the transaction, the director now directly owns 5,827 shares of the company’s stock, valued at approximately $161,233.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 169,407 shares of company stock worth $4,593,013 over the last three months. 9.33% of the stock is owned by insiders.
AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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