First Light Asset Management LLC Sells 1,254,407 Shares of AxoGen, Inc. $AXGN

First Light Asset Management LLC trimmed its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN) by 31.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,748,361 shares of the medical equipment provider’s stock after selling 1,254,407 shares during the quarter. AxoGen comprises about 7.7% of First Light Asset Management LLC’s investment portfolio, making the stock its 3rd largest holding. First Light Asset Management LLC owned approximately 0.05% of AxoGen worth $126,947,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Nykredit A S acquired a new position in shares of AxoGen during the 2nd quarter worth approximately $30,000. MCF Advisors LLC acquired a new stake in shares of AxoGen in the fourth quarter valued at approximately $30,000. Arax Advisory Partners boosted its stake in shares of AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 819 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of AxoGen in the fourth quarter valued at approximately $36,000. Finally, Kestra Advisory Services LLC acquired a new stake in AxoGen during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

Analysts Set New Price Targets

AXGN has been the topic of several analyst reports. Canaccord Genuity Group increased their target price on AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, August 26th. Citizens Jmp upped their price objective on shares of AxoGen from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 30th. Truist Financial began coverage on shares of AxoGen in a research note on Wednesday, August 26th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Wall Street Zen raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given 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 price target of $51.56.

Insiders Place Their Bets

In other news, Director Amy Wendell sold 13,353 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total value of $646,552.26. Following the completion of the transaction, the director owned 107,976 shares of the company’s stock, valued at approximately $5,228,197.92. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marc A. Began sold 67,500 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the completion of the transaction, the executive vice president directly owned 50,135 shares of the company’s stock, valued at $2,373,390.90. This trade represents a 57.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 98,503 shares of company stock valued at $4,656,947. 2.44% of the stock is owned by corporate insiders.

AxoGen Trading Up 1.2%

Shares of AXGN stock opened at $47.27 on Thursday. The stock’s fifty day moving average price is $45.36 and its two-hundred day moving average price is $40.36. The company has a market cap of $2.54 billion, a PE ratio of -69.51 and a beta of 1.16. AxoGen, Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $52.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%.The company had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. Equities analysts predict that AxoGen, Inc. will post -0.45 EPS for the current fiscal 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.