Lisanti Capital Growth LLC Purchases New Stake in AxoGen, Inc. $AXGN

Lisanti Capital Growth LLC purchased a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the second quarter, HoldingsChannel.com reports. The firm purchased 90,565 shares of the medical equipment provider’s stock, valued at approximately $4,183,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MCF Advisors LLC acquired a new stake in AxoGen in the fourth quarter valued at $30,000. Aquatic Capital Management LLC grew its stake in shares of AxoGen by 287.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 1,269 shares during the period. Arax Advisory Partners grew its stake in shares of AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 819 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of AxoGen in the 4th quarter valued at about $36,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of AxoGen in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

Insider Transactions at AxoGen

In related news, EVP Marc A. Began sold 67,500 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the sale, the executive vice president owned 50,135 shares in the company, valued at approximately $2,373,390.90. This trade represents a 57.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Mcbride Wendell sold 13,353 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total transaction of $646,552.26. Following the sale, the director owned 107,976 shares in the company, valued at approximately $5,228,197.92. This trade represents a 11.01% decrease in their position. 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. Insiders sold a total of 95,003 shares of company stock worth $4,482,997 over the last ninety days. 2.44% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Jefferies Financial Group restated a “buy” rating and set a $55.00 target price on shares of AxoGen in a research report on Wednesday, July 29th. Wall Street Zen raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Citizens Jmp lifted their price target on shares of AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Finally, Citigroup reissued a “market outperform” rating on shares of AxoGen in a research note on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.00.

AxoGen Stock Down 2.5%

AXGN opened at $48.93 on Thursday. The firm has a market cap of $2.63 billion, a P/E ratio of -71.95 and a beta of 1.11. The business’s fifty day simple moving average is $43.88 and its 200 day simple moving average is $38.79. AxoGen, Inc. has a 52 week low of $13.64 and a 52 week high of $50.66. The company has a quick ratio of 5.04, a current ratio of 6.60 and a debt-to-equity ratio of 0.07.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The firm 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%. As a group, equities research analysts anticipate that AxoGen, Inc. will post -0.45 EPS for the current fiscal year.

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.