TimesSquare Capital Management LLC Makes New Investment in AxoGen, Inc. $AXGN

TimesSquare Capital Management LLC purchased a new position in AxoGen, Inc. (NASDAQ:AXGN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 689,833 shares of the medical equipment provider’s stock, valued at approximately $31,863,000.

Several other institutional investors and hedge funds have also made changes to their positions in AXGN. Balyasny Asset Management L.P. boosted its stake in shares of AxoGen by 183.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after acquiring an additional 1,250,968 shares during the last quarter. Wasatch Advisors LP raised its stake in AxoGen by 101.1% in the 1st quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock valued at $61,534,000 after purchasing an additional 933,778 shares during the last quarter. Millennium Management LLC lifted its holdings in AxoGen by 2,255.8% in the 4th quarter. Millennium Management LLC now owns 971,358 shares of the medical equipment provider’s stock valued at $31,793,000 after purchasing an additional 930,126 shares in the last quarter. Next Century Growth Investors LLC purchased a new position in AxoGen in the 4th quarter valued at about $26,180,000. Finally, Perceptive Advisors LLC acquired a new stake in shares of AxoGen during the 4th quarter worth about $25,665,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on AXGN. Citigroup reiterated a “market outperform” rating on shares of AxoGen in a report on Thursday, July 30th. Canaccord Genuity Group raised their target price on shares of AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of AxoGen in a research report on Friday, May 29th. Zacks Research raised shares of AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Finally, HC Wainwright boosted their price target on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AxoGen has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

AxoGen Stock Up 0.9%

AXGN opened at $49.15 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -72.28 and a beta of 1.11. The business has a 50-day moving average of $43.58 and a two-hundred day moving average of $38.58. AxoGen, Inc. has a 12 month low of $13.64 and a 12 month high of $49.93.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. The company had revenue of $69.73 million during the quarter, compared to the consensus estimate of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. On average, research analysts expect that AxoGen, Inc. will post -0.45 earnings per share for the current year.

Insider Activity at AxoGen

In related news, Director Amy Mcbride Wendell sold 13,353 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total value of $646,552.26. Following the completion of the sale, the director directly owned 107,976 shares in the company, valued at approximately $5,228,197.92. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Johnson Weiler sold 14,150 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $45.30, for a total transaction of $640,995.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 95,003 shares of company stock worth $4,482,997. 2.44% of the stock is owned by company insiders.

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.