Connor Clark & Lunn Investment Management Ltd. Takes Position in AxoGen, Inc. $AXGN

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of AxoGen, Inc. (NASDAQ:AXGN) in the second quarter, Holdings Channel.com reports. The fund purchased 67,118 shares of the medical equipment provider’s stock, valued at approximately $3,100,000.

Several other institutional investors have also recently made changes to their positions in AXGN. MCF Advisors LLC purchased a new position in AxoGen in the fourth quarter worth approximately $30,000. Arax Advisory Partners increased its stake in AxoGen by 362.4% during the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 819 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in AxoGen in the fourth quarter valued at $36,000. Kestra Advisory Services LLC purchased a new stake in AxoGen in the fourth quarter valued at $39,000. Finally, KBC Group NV acquired a new position in shares of AxoGen in the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Insider Buying and Selling at AxoGen

In other AxoGen news, Director Kathy Johnson Weiler sold 14,150 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $45.30, for a total transaction of $640,995.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Mcbride Wendell sold 13,353 shares of the stock in a transaction dated 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 directly owned 107,976 shares in the company, valued at $5,228,197.92. This represents a 11.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 95,003 shares of company stock valued at $4,482,997 in the last three months. 2.44% of the stock is owned by corporate insiders.

AxoGen Stock Down 0.5%

NASDAQ:AXGN opened at $51.47 on Friday. The company has a quick ratio of 5.04, a current ratio of 6.60 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average is $44.76 and its two-hundred day moving average is $39.52. AxoGen, Inc. has a 52 week low of $15.24 and a 52 week high of $52.91. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -75.69 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AXGN shares. Zacks Research upgraded AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Truist Financial initiated coverage on shares of AxoGen in a report on Wednesday. They issued a “buy” rating and a $60.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a research report on Wednesday. HC Wainwright increased their target price on shares of AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Citizens Jmp increased their target price on shares of AxoGen from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, AxoGen presently has a consensus rating of “Moderate Buy” and an average target price of $51.56.

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.