Marshall Wace LLP reduced its holdings in AxoGen, Inc (NASDAQ:AXGN) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,080,542 shares of the medical equipment provider’s stock after selling 88,411 shares during the quarter. Marshall Wace LLP owned about 2.82% of AxoGen worth $39,818,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of AXGN. Bank of Montreal Can acquired a new stake in shares of AxoGen in the second quarter valued at about $180,000. Princeton Capital Management LLC acquired a new stake in shares of AxoGen in the third quarter valued at about $184,000. Jane Street Group LLC acquired a new stake in shares of AxoGen in the second quarter valued at about $201,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of AxoGen in the second quarter valued at about $207,000. Finally, Beacon Investment Advisory Services Inc. acquired a new stake in shares of AxoGen in the second quarter valued at about $243,000. 88.59% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on AXGN. BidaskClub raised AxoGen from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. Cantor Fitzgerald lowered their price target on AxoGen from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 30th. BTIG Research started coverage on AxoGen in a research report on Wednesday, November 14th. They issued a “neutral” rating on the stock. Finally, Leerink Swann reissued an “outperform” rating and set a $55.00 target price on shares of AxoGen in a research report on Tuesday, October 30th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. AxoGen presently has an average rating of “Buy” and an average target price of $44.80.
AXGN stock traded down $0.40 during trading on Friday, reaching $30.80. 20,207 shares of the stock were exchanged, compared to its average volume of 377,778. AxoGen, Inc has a twelve month low of $23.60 and a twelve month high of $56.85. The company has a market cap of $1.22 billion, a PE ratio of -99.35 and a beta of -0.24.
AxoGen (NASDAQ:AXGN) last released its earnings results on Monday, October 29th. The medical equipment provider reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). AxoGen had a negative return on equity of 18.17% and a negative net margin of 25.39%. The business had revenue of $22.66 million for the quarter, compared to the consensus estimate of $22.52 million. During the same period last year, the business earned ($0.04) earnings per share. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. Research analysts predict that AxoGen, Inc will post -0.58 EPS for the current fiscal year.
In other AxoGen news, General Counsel Gregory Gene Freitag sold 45,000 shares of the firm’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $33.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the general counsel now owns 95,865 shares in the company, valued at $3,163,545. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Karen L. Zaderej sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $33.18, for a total transaction of $829,500.00. Following the transaction, the chief executive officer now owns 394,970 shares of the company’s stock, valued at approximately $13,105,104.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,000 shares of company stock valued at $2,959,500. Corporate insiders own 7.86% of the company’s stock.
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AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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