Lisanti Capital Growth LLC Buys Shares of 109,175 AxoGen, Inc. $AXGN

Lisanti Capital Growth LLC bought a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 109,175 shares of the medical equipment provider’s stock, valued at approximately $3,573,000.

Several other hedge funds have also recently made changes to their positions in AXGN. Aquatic Capital Management LLC raised its stake in shares of 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 period. State of Alaska Department of Revenue bought a new stake in shares of AxoGen in the third quarter valued at $43,000. Tower Research Capital LLC TRC raised its stake in shares of AxoGen by 189.9% in 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 buying an additional 3,327 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of AxoGen in the third quarter valued at $64,000. Finally, State of Wyoming bought a new stake in shares of AxoGen in the second quarter valued at $69,000. 80.29% of the stock is currently owned by institutional investors.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $40.90 on Friday. The stock has a market cap of $2.18 billion, a PE ratio of -63.91 and a beta of 1.17. AxoGen, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $45.83. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10. The stock has a fifty day moving average of $36.62 and a 200-day moving average of $32.78.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.05). AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. The company had revenue of $61.46 million during the quarter, compared to analysts’ expectations of $57.85 million. Equities research analysts anticipate that AxoGen, Inc. will post -0.3 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Erick Wayne Devinney sold 5,221 shares of the business’s 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 completion of the transaction, the insider directly owned 262,781 shares in the company, valued at $8,629,728.04. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathy Johnson Weiler sold 16,344 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $44.09, for a total value of $720,606.96. Following the transaction, the director owned 16,344 shares of the company’s stock, valued at approximately $720,606.96. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 34,262 shares of company stock valued at $1,440,250 in the last ninety days. Corporate insiders own 2.44% of the company’s stock.

Wall Street Analysts Forecast Growth

AXGN has been the topic of several research reports. Raymond James Financial restated an “outperform” rating and issued a $48.00 target price on shares of AxoGen in a research note on Wednesday, April 29th. Canaccord Genuity Group lifted their price target on AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Citizens Jmp lifted their price target on AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded AxoGen from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Lake Street Capital lifted their price target on AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.50.

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.