Perceptive Advisors LLC Sells 86,828 Shares of AxoGen, Inc. $AXGN

Perceptive Advisors LLC trimmed its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 11.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 697,312 shares of the medical equipment provider’s stock after selling 86,828 shares during the period. Perceptive Advisors LLC’s holdings in AxoGen were worth $23,102,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its position in shares of AxoGen by 1.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock worth $703,000 after purchasing an additional 371 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in AxoGen by 6.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider’s stock valued at $296,000 after purchasing an additional 525 shares during the period. Arax Advisory Partners lifted its holdings in AxoGen by 362.4% in 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 in the last quarter. Brooklyn Investment Group lifted its holdings in AxoGen by 4.2% in the 4th quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock worth $688,000 after purchasing an additional 823 shares in the last quarter. Finally, MCF Advisors LLC bought a new position in AxoGen in the 4th quarter worth approximately $30,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Price Performance

Shares of AxoGen stock opened at $42.21 on Friday. The firm has a market cap of $2.27 billion, a PE ratio of -62.07 and a beta of 1.09. The stock has a 50 day moving average of $42.13 and a 200 day moving average of $37.37. The company has a current ratio of 6.60, a quick ratio of 5.33 and a debt-to-equity ratio of 0.07. AxoGen, Inc. has a 12 month low of $12.39 and a 12 month high of $46.95.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The business had revenue of $69.73 million for the quarter, compared to the consensus estimate of $67.10 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. On average, research analysts expect that AxoGen, Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AXGN has been the subject of a number of research analyst reports. Wall Street Zen raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Zacks Research raised shares of AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Raymond James Financial restated an “outperform” rating and set a $48.00 target price on shares of AxoGen in a research report on Wednesday, April 29th. Canaccord Genuity Group raised their target price on shares of AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday. Finally, HC Wainwright lifted their price target on shares of AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Insider Activity at AxoGen

In related news, Director Kathy Johnson Weiler sold 16,344 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $44.09, for a total transaction of $720,606.96. Following the sale, the director owned 16,344 shares of the company’s stock, valued at $720,606.96. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Amy Mcbride Wendell sold 1,647 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $42.60, for a total transaction of $70,162.20. Following the transaction, the director owned 93,826 shares of the company’s stock, valued at $3,996,987.60. This trade represents a 1.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 29,041 shares of company stock valued at $1,268,792. 2.44% of the stock is owned by corporate insiders.

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.