Roubaix Capital LLC Takes $3.87 Million Position in AxoGen, Inc. $AXGN

Roubaix Capital LLC acquired a new stake in AxoGen, Inc. (NASDAQ:AXGN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 216,861 shares of the medical equipment provider’s stock, valued at approximately $3,869,000. AxoGen makes up approximately 1.8% of Roubaix Capital LLC’s portfolio, making the stock its 26th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Royce & Associates LP purchased a new position in AxoGen during the 3rd quarter valued at about $3,587,000. Fox Run Management L.L.C. bought a new position in shares of AxoGen during the third quarter valued at approximately $297,000. PNC Financial Services Group Inc. increased its holdings 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 buying an additional 3,353 shares during the period. Cornerstone Investment Partners LLC bought a new position in AxoGen in the third quarter worth approximately $182,000. Finally, Bessemer Group Inc. purchased a new stake in AxoGen during the third quarter worth $14,468,000. 80.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Mizuho started coverage on AxoGen in a report on Monday, December 1st. They issued an “outperform” rating and a $40.00 price target on the stock. Canaccord Genuity Group lifted their target price 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 reiterated a “sell (e+)” rating on shares of AxoGen in a report on Monday, December 29th. Raymond James Financial restated an “outperform” rating and issued a $41.00 price target on shares of AxoGen in a report on Monday, February 23rd. Finally, Wells Fargo & Company initiated coverage on shares of AxoGen in a research note on Thursday, February 19th. They set an “overweight” rating and a $40.00 price objective for the company. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.67.

Insider Buying and Selling at AxoGen

In other news, Director Kathy Johnson Weiler sold 46,653 shares of AxoGen stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $29.55, for a total transaction of $1,378,596.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marc A. Began sold 9,278 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total value of $289,566.38. Following the completion of the transaction, the executive vice president directly owned 31,507 shares in the company, valued at approximately $983,333.47. The trade was a 22.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 301,680 shares of company stock valued at $9,174,052. Company insiders own 2.78% of the company’s stock.

AxoGen Price Performance

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 market cap of $1.59 billion, a PE ratio of -90.14 and a beta of 0.98. 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 business has a 50-day simple moving average of $33.04 and a two-hundred day simple moving average of $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). The company had revenue of $59.90 million during the quarter, compared to analysts’ expectations of $59.90 million. AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. As a group, equities analysts expect that AxoGen, Inc. will post -0.29 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.