Perceptive Advisors LLC Purchases New Stake in AxoGen, Inc. $AXGN

Perceptive Advisors LLC purchased a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 784,140 shares of the medical equipment provider’s stock, valued at approximately $25,665,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in shares of AxoGen by 14.2% during the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after purchasing an additional 4,723 shares during the period. AQR Capital Management LLC raised its holdings 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. raised its holdings 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 raised its holdings in shares of AxoGen by 104,810.0% during the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after purchasing an additional 10,481 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of AxoGen by 37.3% during the second quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock worth $4,113,000 after purchasing an additional 103,072 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AXGN has been the topic of a number of research reports. Citizens Jmp increased their target price on shares of AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. Raymond James Financial restated an “outperform” rating and set a $48.00 price target on shares of AxoGen in a research report on Wednesday, April 29th. Wells Fargo & Company upped their price target on shares of AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of AxoGen from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, AxoGen currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

AxoGen Stock Up 2.7%

AxoGen stock opened at $44.57 on Thursday. The company has a 50-day simple moving average of $39.93 and a 200-day simple moving average of $34.93. The firm has a market capitalization of $2.37 billion, a P/E ratio of -69.64 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. AxoGen, Inc. has a one year low of $9.22 and a one year high of $45.83.

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

Insider Activity at AxoGen

In related news, Director John Johnson sold 11,050 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $43.26, for a total value of $478,023.00. Following the completion of the transaction, the director owned 11,050 shares in the company, valued at $478,023. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Amy Mcbride Wendell sold 1,647 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $42.60, for a total transaction of $70,162.20. Following the completion of the transaction, the director owned 93,826 shares of the company’s stock, valued at $3,996,987.60. This represents a 1.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 29,041 shares of company stock worth $1,268,792 in the last 90 days. Corporate insiders own 2.44% of the company’s stock.

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.