Jacobs Levy Equity Management Inc. Raises Stock 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. boosted its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 148.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,901 shares of the medical equipment provider's stock after buying an additional 121,901 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.45% of AxoGen worth $3,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in AxoGen during the 4th quarter valued at about $31,000. Fifth Third Bancorp acquired a new position in shares of AxoGen in the first quarter valued at about $92,000. GAMMA Investing LLC increased its holdings in shares of AxoGen by 3,884.6% in the first 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of AxoGen in the first quarter valued at about $146,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of AxoGen in the first quarter valued at about $150,000. 80.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised AxoGen from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $26.00.

AxoGen Stock Performance

AxoGen stock traded down $0.05 during midday trading on Monday, hitting $16.37. 124,772 shares of the company were exchanged, compared to its average volume of 827,770. The firm has a market capitalization of $752.95 million, a PE ratio of -162.88 and a beta of 1.02. The business has a fifty day simple moving average of $14.12 and a two-hundred day simple moving average of $14.20. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.67 and a current ratio of 4.14. AxoGen, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $21.00.

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.