AxoGen, Inc. $AXGN Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP cut its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN) by 68.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,671 shares of the medical equipment provider’s stock after selling 134,266 shares during the period. GSA Capital Partners LLP owned about 0.14% of AxoGen worth $1,118,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AXGN. PNC Financial Services Group Inc. boosted its holdings in AxoGen by 41.5% in the third quarter. PNC Financial Services Group Inc. now owns 11,430 shares of the medical equipment provider’s stock valued at $204,000 after purchasing an additional 3,353 shares during the last quarter. Cornerstone Investment Partners LLC acquired a new position in shares of AxoGen in the 3rd quarter valued at approximately $182,000. Bessemer Group Inc. acquired a new stake in shares of AxoGen during the third quarter worth approximately $14,468,000. Brown Capital Management LLC acquired a new stake in shares of AxoGen during the third quarter worth approximately $11,500,000. Finally, Principal Financial Group Inc. increased its stake in shares of AxoGen by 69.7% in the third quarter. Principal Financial Group Inc. now owns 51,130 shares of the medical equipment provider’s stock worth $912,000 after buying an additional 21,002 shares during the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Stock Down 0.7%

NASDAQ:AXGN opened at $35.01 on Friday. The company has a current ratio of 4.09, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average of $32.81 and a 200-day moving average of $24.26. The firm has a market capitalization of $1.61 billion, a PE ratio of -700.20 and a beta of 1.00. AxoGen, Inc. has a 52 week low of $9.22 and a 52 week high of $36.00.

Insider Buying and Selling

In other AxoGen news, EVP Marc A. Began sold 9,278 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total value of $289,566.38. Following the completion of the transaction, the executive vice president owned 31,507 shares in the company, valued at approximately $983,333.47. This represents a 22.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amy Mcbride Wendell sold 43,684 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $29.31, for a total value of $1,280,378.04. Following the transaction, the director owned 93,826 shares of the company’s stock, valued at approximately $2,750,040.06. This represents a 31.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 301,680 shares of company stock valued at $9,174,052 in the last three months. 2.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AXGN has been the topic of a number of research analyst reports. Canaccord Genuity Group increased their price objective on shares of AxoGen from $27.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Jefferies Financial Group lifted their price target on AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Lake Street Capital boosted their price objective on AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Citigroup restated a “market outperform” rating on shares of AxoGen in a research note on Thursday, October 30th. Finally, Citizens Jmp set a $34.00 target price on AxoGen in a research report on Thursday, October 30th. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.22.

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.