Armistice Capital LLC Lowers Stock Position in AxoGen, Inc. $AXGN

Key Points

• Armistice Capital LLC reduced its stake in AxoGen, Inc. by 12.2%, selling 74,722 shares during the 1st quarter, leaving it with 538,278 shares valued at approximately $9.96 million.
• Other institutional investors have been active as well, with Panagora Asset Management increasing its position by 11.3% and Driehaus Capital Management by 22.8% in the same period.
• Despite the decrease in some positions, AxoGen has received a consensus rating of "Buy" from analysts, with a price target ranging from $24.00 to $26.00.

Armistice Capital LLC decreased its position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 12.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,278 shares of the medical equipment provider's stock after selling 74,722 shares during the quarter. Armistice Capital LLC owned 1.18% of AxoGen worth $9,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Panagora Asset Management Inc. boosted its position in AxoGen by 11.3% during the first quarter. Panagora Asset Management Inc. now owns 219,841 shares of the medical equipment provider's stock worth $4,067,000 after purchasing an additional 22,333 shares in the last quarter. Driehaus Capital Management LLC boosted its position in AxoGen by 22.8% during the first quarter. Driehaus Capital Management LLC now owns 1,172,029 shares of the medical equipment provider's stock worth $21,683,000 after purchasing an additional 217,590 shares in the last quarter. Trexquant Investment LP boosted its position in AxoGen by 827.7% during the first quarter. Trexquant Investment LP now owns 183,495 shares of the medical equipment provider's stock worth $3,395,000 after purchasing an additional 163,715 shares in the last quarter. Keeley Teton Advisors LLC boosted its position in AxoGen by 22.7% during the first quarter. Keeley Teton Advisors LLC now owns 69,928 shares of the medical equipment provider's stock worth $1,294,000 after purchasing an additional 12,929 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in AxoGen during the first quarter worth $495,000. 80.29% of the stock is owned by institutional investors and hedge funds.

AxoGen Trading Down 0.5%

Shares of AxoGen stock opened at $16.14 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.14 and a quick ratio of 2.67. AxoGen, Inc. has a 1 year low of $9.22 and a 1 year high of $21.00. The company has a market capitalization of $742.65 million, a P/E ratio of -161.38 and a beta of 1.00. The business has a 50 day moving average price of $13.02 and a 200 day moving average price of $14.40.

Analyst Ratings Changes

A number of analysts have commented on AXGN shares. Canaccord Genuity Group decreased their target price on AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Wall Street Zen upgraded AxoGen from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $26.00.

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.

Want to see what other hedge funds are holding AXGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AxoGen, Inc. (NASDAQ:AXGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.