UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in AxoGen, Inc. $AXGN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 30.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,524 shares of the medical equipment provider’s stock after acquiring an additional 18,754 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.15% of AxoGen worth $3,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its stake in shares of AxoGen by 1.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock valued at $703,000 after purchasing an additional 371 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of AxoGen by 6.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider’s stock valued at $296,000 after purchasing an additional 525 shares during the last quarter. Arax Advisory Partners raised its holdings in AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 819 shares during the period. Brooklyn Investment Group lifted its position in AxoGen by 4.2% in the fourth quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock worth $688,000 after buying an additional 823 shares during the last quarter. Finally, MCF Advisors LLC bought a new stake in AxoGen in the fourth quarter worth $30,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on AXGN shares. Truist Financial assumed coverage on shares of AxoGen in a research report on Wednesday, August 26th. They set a “buy” rating and a $60.00 price objective on the stock. Canaccord Genuity Group raised their target price on shares of AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a research note on Thursday, July 30th. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $55.00 price objective on shares of AxoGen in a research report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.56.

AxoGen Stock Up 1.2%

Shares of AxoGen stock opened at $47.27 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of -69.51 and a beta of 1.16. The firm’s 50-day moving average is $45.36 and its two-hundred day moving average is $40.36. AxoGen, Inc. has a 1 year low of $15.27 and a 1 year high of $52.91.

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

Insider Buying and Selling at AxoGen

In related news, EVP Marc Began sold 67,500 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $47.34, for a total value of $3,195,450.00. Following the completion of the transaction, the executive vice president owned 50,135 shares of the company’s stock, valued at $2,373,390.90. The trade was a 57.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Weiler sold 14,150 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $45.30, for a total value of $640,995.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 98,503 shares of company stock worth $4,656,947. 2.44% of the stock is currently owned by corporate insiders.

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.