Roubaix Capital LLC Purchases New Position in AxoGen, Inc. $AXGN

Roubaix Capital LLC acquired a new position in AxoGen, Inc. (NASDAQ:AXGN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 216,861 shares of the medical equipment provider’s stock, valued at approximately $3,869,000. AxoGen comprises approximately 1.8% of Roubaix Capital LLC’s portfolio, making the stock its 26th biggest holding. Roubaix Capital LLC owned 0.47% of AxoGen as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Royce & Associates LP purchased a new position in shares of AxoGen in the third quarter valued at $3,587,000. Fox Run Management L.L.C. purchased a new stake in AxoGen during the third quarter valued at $297,000. PNC Financial Services Group Inc. lifted its position in AxoGen by 41.5% during the third quarter. PNC Financial Services Group Inc. now owns 11,430 shares of the medical equipment provider’s stock valued at $204,000 after purchasing an additional 3,353 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new position in shares of AxoGen in the 3rd quarter worth $182,000. Finally, Bessemer Group Inc. purchased a new position in shares of AxoGen in the 3rd quarter worth $14,468,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Amy Mcbride Wendell sold 43,684 shares of AxoGen stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $29.31, for a total transaction of $1,280,378.04. Following the completion of the sale, the director owned 93,826 shares of the company’s stock, valued at approximately $2,750,040.06. The trade was a 31.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael D. Dale sold 61,463 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total value of $1,918,260.23. Following the completion of the sale, the chief executive officer owned 88,537 shares of the company’s stock, valued at $2,763,239.77. The trade was a 40.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 301,680 shares of company stock worth $9,174,052 over the last ninety days. 2.78% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Mizuho assumed coverage on shares of AxoGen in a research report on Monday, December 1st. They set an “outperform” rating and a $40.00 target price on the stock. Lake Street Capital boosted their price objective on AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Canaccord Genuity Group raised their price objective on AxoGen from $27.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of AxoGen in a research report on Monday, December 29th. Finally, Wall Street Zen lowered AxoGen from a “strong-buy” rating to a “buy” rating in a report on Saturday. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AxoGen currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

AxoGen Trading Down 3.4%

Shares of NASDAQ AXGN opened at $30.65 on Tuesday. AxoGen, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $36.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.31 and a current ratio of 5.11. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -90.14 and a beta of 0.98. The business’s 50 day moving average price is $33.04 and its 200-day moving average price is $25.33.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Tuesday, February 24th. The medical equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. The business had revenue of $59.90 million during the quarter, compared to the consensus estimate of $59.90 million. On average, sell-side analysts expect that AxoGen, Inc. will post -0.29 earnings per share for the current year.

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.