Jacobs Levy Equity Management Inc. Boosts Holdings in AxoGen, Inc. $AXGN

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in AxoGen, Inc. by 148.7%, now holding 203,901 shares valued at approximately $3.77 million.
• AxoGen's shares traded at $16.42, with a market cap of $755.48 million, and a PE ratio of -164.18.
• Analysts have given AxoGen a consensus rating of "Buy" with an average price target of $26.00.

Jacobs Levy Equity Management Inc. increased its position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 148.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 203,901 shares of the medical equipment provider's stock after acquiring an additional 121,901 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.45% of AxoGen worth $3,772,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Invesco Ltd. lifted its position in AxoGen by 2,124.5% during the first quarter. Invesco Ltd. now owns 382,429 shares of the medical equipment provider's stock valued at $7,075,000 after purchasing an additional 365,237 shares during the last quarter. Nuveen LLC bought a new stake in AxoGen during the first quarter valued at approximately $5,668,000. Driehaus Capital Management LLC lifted 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 valued at $21,683,000 after purchasing an additional 217,590 shares during the last quarter. Informed Momentum Co LLC lifted its position in AxoGen by 558.7% during the first quarter. Informed Momentum Co LLC now owns 240,737 shares of the medical equipment provider's stock valued at $4,454,000 after purchasing an additional 204,190 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in AxoGen by 21.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,001,217 shares of the medical equipment provider's stock valued at $18,523,000 after purchasing an additional 174,681 shares during the last quarter. 80.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of 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, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $26.00.

AxoGen Price Performance

Shares of AXGN stock traded down $0.39 during trading hours on Friday, hitting $16.41. 773,135 shares of the company's stock were exchanged, compared to its average volume of 1,116,882. The company has a market capitalization of $755.02 million, a PE ratio of -164.08 and a beta of 1.03. AxoGen, Inc. has a 12-month low of $9.22 and a 12-month high of $21.00. The business's 50 day simple moving average is $14.12 and its 200-day simple moving average is $14.23. The company has a current ratio of 4.14, a quick ratio of 2.67 and a debt-to-equity ratio of 0.59.

AxoGen Profile

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.