Capricorn Fund Managers Ltd Invests $22.78 Million in AxoGen, Inc. $AXGN

Capricorn Fund Managers Ltd purchased a new stake in shares of AxoGen, Inc. (NASDAQ:AXGN) during the 1st quarter, HoldingsChannel reports. The firm purchased 687,600 shares of the medical equipment provider’s stock, valued at approximately $22,780,000. AxoGen accounts for about 3.6% of Capricorn Fund Managers Ltd’s holdings, making the stock its 4th biggest holding.

A number of other hedge funds have also modified their holdings of AXGN. First Light Asset Management LLC raised its stake in shares of AxoGen by 28.2% in the third quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock worth $103,574,000 after purchasing an additional 1,276,487 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in AxoGen by 183.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock worth $20,953,000 after buying an additional 1,250,968 shares during the period. Wasatch Advisors LP increased its holdings in AxoGen by 101.1% in the 1st quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock worth $61,534,000 after buying an additional 933,778 shares during the period. Millennium Management LLC raised its position in AxoGen by 2,255.8% during the 4th quarter. Millennium Management LLC now owns 971,358 shares of the medical equipment provider’s stock worth $31,793,000 after buying an additional 930,126 shares during the last quarter. Finally, Next Century Growth Investors LLC purchased a new position in AxoGen during the 4th quarter worth approximately $26,180,000. 80.29% of the stock is owned by institutional investors and hedge funds.

AxoGen Stock Up 3.3%

AXGN stock opened at $46.19 on Wednesday. The firm has a market cap of $2.46 billion, a PE ratio of -72.17 and a beta of 1.12. 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 firm’s fifty day moving average is $41.81 and its 200 day moving average is $35.85. AxoGen, Inc. has a one year low of $10.58 and a one year high of $46.26.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The firm had revenue of $61.46 million during the quarter, compared to analysts’ expectations of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. On average, research analysts forecast that AxoGen, Inc. will post -0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AXGN shares. Lake Street Capital upped their price objective on shares of AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Wall Street Zen cut shares of AxoGen from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Wells Fargo & Company boosted their target price on shares of AxoGen from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Citigroup reaffirmed an “outperform” rating on shares of AxoGen in a report on Wednesday, April 29th. Finally, Citizens Jmp increased their price target on AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

Insider Activity

In other AxoGen news, Director Kathy Johnson Weiler sold 16,344 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total transaction of $720,606.96. Following the transaction, the director owned 16,344 shares in the company, valued at approximately $720,606.96. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy Mcbride Wendell sold 1,647 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $42.60, for a total value of $70,162.20. Following the transaction, the director owned 93,826 shares in the company, valued at $3,996,987.60. This represents a 1.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,041 shares of company stock worth $1,268,792 in the last ninety days. Company insiders own 2.44% of the company’s stock.

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.