First Light Asset Management LLC Sells 1,230,558 Shares of AxoGen, Inc. $AXGN

First Light Asset Management LLC reduced its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 23.5% during the first quarter, Holdings Channel.com reports. The firm owned 4,002,768 shares of the medical equipment provider’s stock after selling 1,230,558 shares during the period. AxoGen accounts for about 11.9% of First Light Asset Management LLC’s portfolio, making the stock its biggest position. First Light Asset Management LLC owned about 0.08% of AxoGen worth $132,612,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Balyasny Asset Management L.P. grew its position in AxoGen by 183.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after buying an additional 1,250,968 shares in the last quarter. Wasatch Advisors LP raised its position in shares of AxoGen by 101.1% during the 1st quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock worth $61,534,000 after buying an additional 933,778 shares in the last quarter. Millennium Management LLC raised its position in shares of AxoGen by 2,255.8% during the 4th quarter. Millennium Management LLC now owns 971,358 shares of the medical equipment provider’s stock worth $31,793,000 after buying an additional 930,126 shares in the last quarter. Next Century Growth Investors LLC acquired a new stake in shares of AxoGen in the 4th quarter worth approximately $26,180,000. Finally, Perceptive Advisors LLC acquired a new stake in shares of AxoGen in the 4th quarter worth approximately $25,665,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $39.49 on Monday. AxoGen, Inc. has a twelve month low of $12.39 and a twelve month high of $46.95. The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $42.18 and a two-hundred day moving average of $37.09. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -61.70 and a beta of 1.09.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on AXGN. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. HC Wainwright upped their target price on AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Canaccord Genuity Group upped their target price on AxoGen from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 price target on shares of AxoGen in a research note on Wednesday, April 29th. Finally, Citizens Jmp lifted their price target on AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

Insider Activity at AxoGen

In related news, Director Amy Mcbride Wendell sold 1,647 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 93,826 shares in the company, valued at approximately $3,996,987.60. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Johnson sold 11,050 shares of AxoGen 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 completion of the transaction, the director owned 11,050 shares in the company, valued at approximately $478,023. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,041 shares of company stock valued at $1,268,792 over the last ninety days. Insiders own 2.44% of the company’s stock.

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.