234,495 Shares in AxoGen, Inc. $AXGN Acquired by SummitTX Capital L.P.

SummitTX Capital L.P. purchased a new position in AxoGen, Inc. (NASDAQ:AXGN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 234,495 shares of the medical equipment provider’s stock, valued at approximately $7,769,000. SummitTX Capital L.P. owned 0.44% of AxoGen at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of AxoGen by 14.2% in the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after buying an additional 4,723 shares in the last quarter. AQR Capital Management LLC grew its stake in AxoGen by 45.3% during the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after acquiring an additional 7,453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in AxoGen by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after acquiring an additional 1,057 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in AxoGen by 104,810.0% in the 1st quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock valued at $194,000 after acquiring an additional 10,481 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in AxoGen by 37.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock valued at $4,113,000 after acquiring an additional 103,072 shares during the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AXGN. Lake Street Capital increased their price objective on shares of AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Canaccord Genuity Group lifted their target price on AxoGen from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research report on Friday, May 29th. Zacks Research raised AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Finally, Citigroup restated an “outperform” rating on shares of AxoGen in a report on Wednesday, April 29th. Nine equities 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.50.

Insider Buying and Selling

In other AxoGen news, Director John Johnson sold 11,050 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total transaction of $478,023.00. Following the sale, the director directly owned 11,050 shares in the company, valued at $478,023. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kathy Johnson Weiler sold 16,344 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $44.09, for a total value of $720,606.96. Following the completion of the sale, the director directly owned 16,344 shares of the company’s stock, valued at $720,606.96. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 29,041 shares of company stock worth $1,268,792. Corporate insiders own 2.44% of the company’s stock.

AxoGen Price Performance

AXGN stock opened at $39.49 on Monday. AxoGen, Inc. has a 52 week low of $12.39 and a 52 week high of $46.95. The company has a quick ratio of 5.33, a current ratio of 7.10 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $42.18 and a two-hundred day simple moving average of $37.09. The firm has a market capitalization of $2.10 billion, a P/E ratio of -61.70 and a beta of 1.09.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The business had revenue of $61.46 million during the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. Analysts anticipate that AxoGen, Inc. will post -0.37 earnings per share for the current fiscal year.

AxoGen Company 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.