First Light Asset Management LLC Sells 32,580 Shares of AxoGen, Inc. $AXGN

Key Points

• First Light Asset Management LLC reduced its stake in AxoGen, Inc. by 0.7%, currently holding 4,474,215 shares, making it the second largest holding in their portfolio.
• Analysts have recently upgraded AxoGen's rating to "buy", with a consensus target price of $26.00, despite Canaccord Genuity Group lowering its target price from $26.00 to $24.00.
• AxoGen currently has a market capitalization of $742.60 million and operates in the medical equipment sector, specializing in technologies for peripheral nerve regeneration and repair.

First Light Asset Management LLC reduced its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 0.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,474,215 shares of the medical equipment provider's stock after selling 32,580 shares during the quarter. AxoGen makes up approximately 9.4% of First Light Asset Management LLC's investment portfolio, making the stock its 2nd largest position. First Light Asset Management LLC owned approximately 9.83% of AxoGen worth $82,773,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. State of Wyoming purchased a new position in AxoGen in the fourth quarter valued at about $31,000. Fifth Third Bancorp acquired a new stake in shares of AxoGen during the 1st quarter worth approximately $92,000. GAMMA Investing LLC increased its stake in shares of AxoGen by 3,884.6% in the 1st quarter. GAMMA Investing LLC now owns 5,698 shares of the medical equipment provider's stock valued at $105,000 after purchasing an additional 5,555 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in AxoGen in the 1st quarter worth $146,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in AxoGen during the 1st quarter worth approximately $150,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

AxoGen Price Performance

AxoGen stock traded up $0.58 during mid-day trading on Friday, hitting $15.98. 1,050,860 shares of the company were exchanged, compared to its average volume of 1,275,567. The company has a market capitalization of $735.29 million, a P/E ratio of -159.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.14 and a quick ratio of 2.67. The business's 50 day simple moving average is $13.58 and its two-hundred day simple moving average is $14.35. AxoGen, Inc. has a 12-month low of $9.22 and a 12-month high of $21.00.

Analyst Upgrades and Downgrades

AXGN has been the subject of several recent research reports. Wall Street Zen raised AxoGen from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Canaccord Genuity Group decreased their price objective on AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price 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.