AxoGen, Inc. $AXGN is First Light Asset Management LLC’s Largest Position

First Light Asset Management LLC boosted its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 28.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,805,730 shares of the medical equipment provider’s stock after purchasing an additional 1,276,487 shares during the period. AxoGen makes up 9.8% of First Light Asset Management LLC’s portfolio, making the stock its biggest position. First Light Asset Management LLC owned 12.59% of AxoGen worth $103,574,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in AxoGen by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after buying an additional 1,057 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of AxoGen by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 16,194 shares of the medical equipment provider’s stock worth $176,000 after acquiring an additional 1,079 shares during the last quarter. Arizona State Retirement System increased its position in shares of AxoGen by 10.0% during the third quarter. Arizona State Retirement System now owns 12,801 shares of the medical equipment provider’s stock worth $228,000 after acquiring an additional 1,164 shares during the last quarter. Aquatic Capital Management LLC lifted its stake in shares of AxoGen by 287.8% in the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 1,269 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of AxoGen in the third quarter worth about $27,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Insider Activity at AxoGen

In related news, Director Amy Mcbride Wendell sold 43,684 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $29.31, for a total transaction of $1,280,378.04. Following the transaction, the director directly owned 93,826 shares in the company, valued at $2,750,040.06. This trade represents a 31.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathy Johnson Weiler sold 46,653 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $29.55, for a total value of $1,378,596.15. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.78% of the company’s stock.

AxoGen Stock Up 1.8%

NASDAQ:AXGN opened at $32.34 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.31 and a current ratio of 5.11. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -95.11 and a beta of 0.98. AxoGen, Inc. has a one year low of $9.22 and a one year high of $36.00. The stock has a 50-day simple moving average of $32.65 and a 200 day simple moving average of $26.26.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $59.90 million for the quarter, compared to analyst estimates of $59.90 million. AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. Sell-side analysts predict that AxoGen, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AXGN shares. Lake Street Capital raised their price objective on AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Canaccord Genuity Group upped their target price on AxoGen from $27.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Citizens Jmp increased their target price on AxoGen from $34.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 24th. Raymond James Financial reissued an “outperform” rating and set a $41.00 price target on shares of AxoGen in a research report on Monday, February 23rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of AxoGen in a research note on Monday, December 29th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, AxoGen presently has an average rating of “Moderate Buy” and a consensus target price of $39.38.

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.