Royce & Associates LP Invests $3.59 Million in AxoGen, Inc. $AXGN

Royce & Associates LP bought a new stake in AxoGen, Inc. (NASDAQ:AXGN) in the third quarter, HoldingsChannel.com reports. The fund bought 201,044 shares of the medical equipment provider’s stock, valued at approximately $3,587,000.

Several other large investors also recently bought and sold shares of AXGN. Future Financial Wealth Managment LLC bought a new position in AxoGen during the third quarter valued at $27,000. State of Alaska Department of Revenue purchased a new stake in shares of AxoGen during the 3rd quarter valued at about $43,000. AdvisorNet Financial Inc lifted its holdings in shares of AxoGen by 500.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 4,800 shares of the medical equipment provider’s stock valued at $86,000 after acquiring an additional 4,000 shares during the last quarter. Tower Research Capital LLC TRC grew its position in AxoGen by 189.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider’s stock worth $55,000 after acquiring an additional 3,327 shares in the last quarter. Finally, AlphaQuest LLC grew its position in AxoGen by 882.2% in the second quarter. AlphaQuest LLC now owns 6,276 shares of the medical equipment provider’s stock worth $68,000 after acquiring an additional 5,637 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

Insider Buying and Selling at AxoGen

In other news, CFO Lindsey Marie Hartley sold 14,812 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $29.86, for a total value of $442,286.32. Following the sale, the chief financial officer directly owned 31,376 shares in the company, valued at approximately $936,887.36. This trade represents a 32.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marc A. Began sold 9,278 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total transaction of $289,566.38. Following the sale, the executive vice president directly owned 31,507 shares of the company’s stock, valued at $983,333.47. The trade was a 22.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 301,680 shares of company stock valued at $9,174,052. 2.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AXGN shares. Mizuho initiated coverage on AxoGen in a research note on Monday, December 1st. They issued an “outperform” rating and a $40.00 price objective for the company. Raymond James Financial restated an “outperform” rating and set a $41.00 price target on shares of AxoGen in a report on Monday, February 23rd. Jefferies Financial Group boosted their price objective on shares of AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. HC Wainwright raised their target price on shares of AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Wall Street Zen lowered shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.38.

AxoGen Trading Down 0.2%

NASDAQ:AXGN opened at $29.16 on Friday. 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 firm has a 50-day simple moving average of $32.86 and a 200-day simple moving average of $25.49. AxoGen, Inc. has a one year low of $9.22 and a one year high of $36.00. The firm has a market cap of $1.51 billion, a P/E ratio of -85.76 and a beta of 0.98.

AxoGen (NASDAQ:AXGN) last posted its earnings results 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). AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%.The company had revenue of $59.90 million for the quarter, compared to analysts’ expectations of $59.90 million. Equities analysts anticipate 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.