Catalyst Capital Advisors LLC bought a new position in AxoGen, Inc. (NASDAQ:AXGN) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 30,500 shares of the medical equipment provider’s stock, valued at approximately $590,000. Catalyst Capital Advisors LLC owned about 0.09% of AxoGen as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of AxoGen by 293.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 631,563 shares of the medical equipment provider’s stock valued at $12,222,000 after purchasing an additional 471,209 shares during the last quarter. Russell Investments Group Ltd. grew its position in AxoGen by 238.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 611,678 shares of the medical equipment provider’s stock worth $10,245,000 after acquiring an additional 431,057 shares during the last quarter. Castleark Management LLC bought a new position in AxoGen during the 2nd quarter worth approximately $5,426,000. Renaissance Technologies LLC bought a new position in AxoGen during the 1st quarter worth approximately $1,473,000. Finally, EAM Investors LLC grew its position in AxoGen by 86.7% during the 2nd quarter. EAM Investors LLC now owns 293,880 shares of the medical equipment provider’s stock worth $4,922,000 after acquiring an additional 136,453 shares during the last quarter. Institutional investors and hedge funds own 66.00% of the company’s stock.
Several research firms have weighed in on AXGN. Jefferies Group started coverage on AxoGen in a report on Thursday, November 30th. They issued a “buy” rating and a $35.00 price objective for the company. Leerink Swann raised their target price on AxoGen from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, November 21st. Lake Street Capital raised their target price on AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. Wedbush reaffirmed a “buy” rating and set a $27.00 price objective (up previously from $22.00) on shares of AxoGen in a research report on Tuesday, November 21st. Finally, Roth Capital reaffirmed a “buy” rating and set a $21.00 price objective (up previously from $18.00) on shares of AxoGen in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $26.17.
AxoGen, Inc. (NASDAQ AXGN) traded up $0.35 during trading on Thursday, hitting $26.45. The company’s stock had a trading volume of 356,425 shares, compared to its average volume of 216,265. AxoGen, Inc. has a twelve month low of $8.15 and a twelve month high of $27.60. The company has a debt-to-equity ratio of 1.93, a current ratio of 3.55 and a quick ratio of 2.95.
AxoGen (NASDAQ:AXGN) last posted its earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.06). AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. The business had revenue of $16.05 million during the quarter, compared to analyst estimates of $15.55 million. The company’s revenue was up 43.2% on a year-over-year basis. equities research analysts forecast that AxoGen, Inc. will post -0.31 earnings per share for the current year.
In related news, Director Guido J. Neels sold 1,150,000 shares of AxoGen stock in a transaction on Monday, November 20th. The stock was sold at an average price of $19.74, for a total value of $22,701,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert James Rudelius sold 16,143 shares of AxoGen stock in a transaction on Monday, September 11th. The shares were sold at an average price of $18.00, for a total value of $290,574.00. Following the transaction, the director now owns 43,273 shares in the company, valued at $778,914. The disclosure for this sale can be found here. Insiders own 9.33% of the company’s stock.
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AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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