Aubrey Capital Management Ltd Acquires New Position in AxoGen, Inc. $AXGN

Aubrey Capital Management Ltd acquired a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the first quarter, HoldingsChannel reports. The fund acquired 87,000 shares of the medical equipment provider’s stock, valued at approximately $2,884,000. AxoGen comprises about 1.5% of Aubrey Capital Management Ltd’s investment portfolio, making the stock its 25th largest holding.

A number of other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in shares of AxoGen by 14.2% in the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after purchasing an additional 4,723 shares during the period. AQR Capital Management LLC grew its stake in shares of AxoGen by 45.3% during the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock worth $442,000 after purchasing an additional 7,453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of AxoGen by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock worth $466,000 after purchasing an additional 1,057 shares during the period. Jones Financial Companies Lllp increased its holdings in AxoGen by 104,810.0% in the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock valued at $194,000 after purchasing an additional 10,481 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of AxoGen by 37.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock valued at $4,113,000 after acquiring an additional 103,072 shares during the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $38.77 on Wednesday. The firm has a market cap of $2.06 billion, a PE ratio of -60.58 and a beta of 1.09. The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08. AxoGen, Inc. has a 1-year low of $11.25 and a 1-year high of $46.95. The company has a fifty day moving average price of $42.50 and a 200 day moving average price of $36.69.

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

Wall Street Analysts Forecast Growth

AXGN has been the topic of several analyst reports. Citigroup reiterated an “outperform” rating on shares of AxoGen in a report on Wednesday, April 29th. Canaccord Genuity Group upped their price objective on shares of AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Raymond James Financial restated an “outperform” rating and issued a $48.00 price objective on shares of AxoGen in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a research note on Friday, May 29th. Finally, Lake Street Capital lifted their target price on AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.50.

Insider Activity at AxoGen

In related news, Director John Johnson sold 11,050 shares of AxoGen stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total value of $478,023.00. Following the sale, the director owned 11,050 shares of the company’s stock, valued at approximately $478,023. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy Mcbride Wendell sold 1,647 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $42.60, for a total value of $70,162.20. Following the completion of the sale, the director owned 93,826 shares in the company, valued at $3,996,987.60. The trade was a 1.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 29,041 shares of company stock valued at $1,268,792. 2.44% of the stock is owned by insiders.

About AxoGen

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.