Catalyst Capital Advisors LLC Takes Position in AxoGen, Inc. (AXGN)
Catalyst Capital Advisors LLC purchased a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the third quarter, according to its most recent filing with the SEC. The firm purchased 30,500 shares of the medical equipment provider’s stock, valued at approximately $590,000. Catalyst Capital Advisors LLC owned 0.09% of AxoGen at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Parametric Portfolio Associates LLC raised its position in shares of AxoGen by 0.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock valued at $113,000 after acquiring an additional 93 shares during the period. Nationwide Fund Advisors raised its holdings in AxoGen by 5.5% during the 2nd quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock worth $249,000 after buying an additional 774 shares during the period. Bank of America Corp DE raised its holdings in AxoGen by 8.7% during the 1st quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock worth $106,000 after buying an additional 814 shares during the period. American International Group Inc. raised its holdings in AxoGen by 7.7% during the 1st quarter. American International Group Inc. now owns 14,941 shares of the medical equipment provider’s stock worth $156,000 after buying an additional 1,068 shares during the period. Finally, UBS Group AG raised its holdings in shares of AxoGen by 8.3% in the first quarter. UBS Group AG now owns 16,141 shares of the medical equipment provider’s stock valued at $169,000 after purchasing an additional 1,234 shares during the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.
Shares of AxoGen, Inc. (NASDAQ AXGN) traded up $1.85 during midday trading on Wednesday, reaching $26.15. The company’s stock had a trading volume of 725,700 shares, compared to its average volume of 210,812. The company has a debt-to-equity ratio of 1.93, a current ratio of 3.55 and a quick ratio of 2.95. AxoGen, Inc. has a 12-month low of $8.05 and a 12-month high of $26.35.
AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). The company had revenue of $16.05 million for the quarter, compared to analysts’ expectations of $15.55 million. AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. AxoGen’s revenue for the quarter was up 43.2% on a year-over-year basis. sell-side analysts predict that AxoGen, Inc. will post -0.33 earnings per share for the current year.
Several equities analysts recently weighed in on the stock. Wedbush reissued a “buy” rating and issued a $27.00 target price (up from $22.00) on shares of AxoGen in a research note on Tuesday. Leerink Swann lifted their price objective on shares of AxoGen from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday. Lake Street Capital lifted their price objective on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $18.00 price target on shares of AxoGen in a research note on Monday, August 21st. Finally, BidaskClub downgraded AxoGen from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.40.
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In related news, Director Robert James Rudelius sold 16,143 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $18.00, for a total value of $290,574.00. Following the sale, the director now directly owns 43,273 shares in the company, valued at $778,914. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Guido J. Neels sold 1,150,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $19.74, for a total value of $22,701,000.00. The disclosure for this sale can be found here. Insiders own 9.33% of the company’s stock.
AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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