Millennium Management LLC Raises Stake in AxoGen, Inc (NASDAQ:AXGN)

Millennium Management LLC raised its position in shares of AxoGen, Inc (NASDAQ:AXGN) by 556.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 574,868 shares of the medical equipment provider’s stock after purchasing an additional 487,361 shares during the quarter. Millennium Management LLC owned 1.46% of AxoGen worth $7,174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Morgan Stanley raised its position in shares of AxoGen by 439.5% during the 2nd quarter. Morgan Stanley now owns 166,464 shares of the medical equipment provider’s stock valued at $3,296,000 after purchasing an additional 135,607 shares during the period. BlackRock Inc. boosted its holdings in AxoGen by 8.5% in the 2nd quarter. BlackRock Inc. now owns 2,674,036 shares of the medical equipment provider’s stock worth $52,947,000 after buying an additional 208,805 shares during the period. Parametric Portfolio Associates LLC increased its stake in AxoGen by 15.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 74,422 shares of the medical equipment provider’s stock worth $1,474,000 after buying an additional 10,108 shares in the last quarter. Parallel Advisors LLC increased its stake in AxoGen by 9,583.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,002 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 2,971 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in AxoGen during the second quarter valued at about $3,114,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

AXGN stock opened at $16.09 on Tuesday. AxoGen, Inc has a 1-year low of $10.91 and a 1-year high of $30.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.38 and a current ratio of 8.20. The business has a 50 day simple moving average of $14.91 and a two-hundred day simple moving average of $16.46.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.04. AxoGen had a negative net margin of 26.79% and a negative return on equity of 17.82%. The firm had revenue of $28.56 million for the quarter, compared to analysts’ expectations of $28.10 million. Equities analysts predict that AxoGen, Inc will post -0.69 EPS for the current year.

Separately, BidaskClub upgraded AxoGen from a “strong sell” rating to a “sell” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $25.00.

AxoGen Company Profile

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

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Institutional Ownership by Quarter for AxoGen (NASDAQ:AXGN)

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