ExodusPoint Capital Management LP Takes Position in AxoGen, Inc. (NASDAQ:AXGN)

ExodusPoint Capital Management LP purchased a new position in shares of AxoGen, Inc. (NASDAQ:AXGN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 43,739 shares of the medical equipment provider’s stock, valued at approximately $721,000. ExodusPoint Capital Management LP owned approximately 0.10% of AxoGen at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in shares of AxoGen in the 4th quarter valued at about $30,000. US Bancorp DE acquired a new position in AxoGen during the fourth quarter worth approximately $30,000. Harvest Fund Management Co. Ltd purchased a new stake in AxoGen in the fourth quarter valued at approximately $93,000. Fox Run Management L.L.C. acquired a new stake in shares of AxoGen in the fourth quarter valued at approximately $169,000. Finally, Sei Investments Co. purchased a new position in shares of AxoGen during the fourth quarter worth approximately $188,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Stock Performance

NASDAQ:AXGN opened at $15.89 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The firm has a market cap of $704.63 million, a price-to-earnings ratio of -49.66 and a beta of 1.00. The firm’s fifty day moving average price is $17.89 and its 200 day moving average price is $16.05. AxoGen, Inc. has a 1-year low of $5.55 and a 1-year high of $21.00.

Insider Transactions at AxoGen

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total transaction of $100,100.00. Following the transaction, the director now owns 97,899 shares of the company’s stock, valued at $1,959,937.98. This represents a 4.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the transaction, the insider now owns 217,762 shares of the company’s stock, valued at $3,810,835. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Lake Street Capital initiated coverage on shares of AxoGen in a report on Monday, March 17th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $24.00 target price on shares of AxoGen in a research note on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $22.60.

AxoGen Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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 peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.