Fox Run Management L.L.C. Purchases New Shares in AxoGen, Inc. $AXGN

Fox Run Management L.L.C. acquired a new stake in shares of AxoGen, Inc. (NASDAQ:AXGN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,665 shares of the medical equipment provider’s stock, valued at approximately $297,000.

Other large investors have also recently made changes to their positions in the company. HighMark Wealth Management LLC grew its position in AxoGen by 88.7% in the third quarter. HighMark Wealth Management LLC now owns 185,085 shares of the medical equipment provider’s stock worth $3,302,000 after acquiring an additional 87,000 shares in the last quarter. Brown Capital Management LLC purchased a new stake in AxoGen during the third quarter valued at approximately $11,500,000. Legal & General Group Plc lifted its stake in shares of AxoGen by 81.3% in the 2nd quarter. Legal & General Group Plc now owns 185,481 shares of the medical equipment provider’s stock valued at $2,012,000 after purchasing an additional 83,175 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of AxoGen by 53.3% in the 2nd quarter. Acadian Asset Management LLC now owns 347,726 shares of the medical equipment provider’s stock valued at $3,772,000 after purchasing an additional 120,914 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of AxoGen by 26.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,072 shares of the medical equipment provider’s stock worth $22,997,000 after purchasing an additional 265,950 shares during the period. 80.29% of the stock is currently owned by institutional investors.

AxoGen Trading Down 3.4%

NASDAQ AXGN opened at $30.65 on Tuesday. The stock has a market cap of $1.59 billion, a PE ratio of -90.14 and a beta of 0.98. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $36.00. The company’s 50-day moving average price is $33.04 and its 200-day moving average price is $25.33. The company has a current ratio of 5.11, a quick ratio of 3.31 and a debt-to-equity ratio of 0.51.

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

Insider Transactions at AxoGen

In related news, Director Paul Thomas sold 21,399 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $29.61, for a total value of $633,624.39. Following the completion of the sale, the director owned 13,528 shares in the company, valued at approximately $400,564.08. The trade was a 61.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Mcbride Wendell sold 43,684 shares of AxoGen stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $29.31, for a total value of $1,280,378.04. Following the sale, the director directly owned 93,826 shares of the company’s stock, valued at approximately $2,750,040.06. This trade represents a 31.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 301,680 shares of company stock valued at $9,174,052 in the last ninety days. Corporate insiders own 2.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of AxoGen in a report on Monday, December 29th. Raymond James Financial reissued an “outperform” rating and issued a $41.00 target price on shares of AxoGen in a research note on Monday, February 23rd. Lake Street Capital raised their target price on shares of AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Canaccord Genuity Group upped their price target on shares of AxoGen from $27.00 to $37.00 and gave the company a “buy” rating in a report on Friday, December 5th. Finally, Jefferies Financial Group increased their price objective on shares of AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

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.