Bosun Asset Management LLC Raises Stake in AxoGen, Inc. (NASDAQ:AXGN)

Bosun Asset Management LLC lifted its position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 125.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,448 shares of the medical equipment provider's stock after buying an additional 44,810 shares during the quarter. Bosun Asset Management LLC owned about 0.18% of AxoGen worth $1,326,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of AxoGen by 8.3% in the 4th quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider's stock valued at $264,000 after acquiring an additional 1,228 shares in the last quarter. Rhumbline Advisers increased its stake in AxoGen by 2.7% in the fourth quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider's stock valued at $960,000 after purchasing an additional 1,521 shares in the last quarter. R Squared Ltd acquired a new position in shares of AxoGen during the fourth quarter valued at about $30,000. US Bancorp DE bought a new position in shares of AxoGen during the 4th quarter worth about $30,000. Finally, MetLife Investment Management LLC grew its stake in shares of AxoGen by 9.8% in the 4th quarter. MetLife Investment Management LLC now owns 26,034 shares of the medical equipment provider's stock valued at $429,000 after buying an additional 2,319 shares during the period. Institutional investors own 80.29% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $24.00 price target on shares of AxoGen in a report on Wednesday, March 5th. Lake Street Capital assumed coverage on AxoGen in a report on Monday, March 17th. They issued a "buy" rating and a $30.00 target price on the stock. Finally, Canaccord Genuity Group boosted their price target on shares of AxoGen from $22.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AxoGen has a consensus rating of "Buy" and an average target price of $22.60.

AxoGen Stock Down 9.8 %

Shares of AXGN stock traded down $1.23 on Friday, hitting $11.36. The stock had a trading volume of 1,705,642 shares, compared to its average volume of 447,995. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The business has a 50 day moving average of $16.74 and a 200 day moving average of $16.29. AxoGen, Inc. has a 12-month low of $5.65 and a 12-month high of $21.00. The stock has a market cap of $517.28 million, a price-to-earnings ratio of -35.50 and a beta of 1.19.

AxoGen (NASDAQ:AXGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The medical equipment provider reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.07). AxoGen had a negative net margin of 7.91% and a negative return on equity of 14.91%. As a group, analysts expect that AxoGen, Inc. will post -0.29 EPS for the current year.

Insider Activity at AxoGen

In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the sale, the insider now directly owns 217,762 shares in the company, valued at $3,810,835. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the sale, the director now directly owns 97,899 shares of the company's stock, valued at approximately $1,959,937.98. This trade represents a 4.86 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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 peripheral nerves; 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; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.