Soleus Capital Management L.P. Has $48.71 Million Position in AxoGen, Inc. (NASDAQ:AXGN)

Soleus Capital Management L.P. lowered its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,955,943 shares of the medical equipment provider's stock after selling 50,000 shares during the period. AxoGen makes up 3.1% of Soleus Capital Management L.P.'s investment portfolio, making the stock its 7th largest holding. Soleus Capital Management L.P. owned about 6.72% of AxoGen worth $48,714,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. US Bancorp DE bought a new stake in AxoGen during the fourth quarter worth about $30,000. R Squared Ltd bought a new stake in AxoGen during the fourth quarter worth about $30,000. State of Wyoming bought a new stake in AxoGen during the fourth quarter worth about $31,000. Harvest Fund Management Co. Ltd bought a new stake in AxoGen during the fourth quarter worth about $93,000. Finally, Fox Run Management L.L.C. bought a new stake in AxoGen during the fourth quarter worth about $169,000. Institutional investors own 80.29% of the company's stock.

AxoGen Stock Performance

Shares of AXGN traded up $0.13 during mid-day trading on Friday, hitting $11.07. 448,340 shares of the company traded hands, compared to its average volume of 466,256. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The stock has a 50-day moving average price of $15.51 and a two-hundred day moving average price of $16.12. AxoGen, Inc. has a 1 year low of $6.05 and a 1 year high of $21.00. The stock has a market cap of $504.17 million, a price-to-earnings ratio of -34.59 and a beta of 1.19.

Wall Street Analysts Forecast Growth

AXGN has been the subject of several recent analyst reports. Lake Street Capital initiated coverage on shares of AxoGen in a report on Monday, March 17th. They issued a "buy" rating and a $30.00 target price for the company. Canaccord Genuity Group decreased their target price on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $24.00 target price on shares of AxoGen in a report on Wednesday, March 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $22.20.

Insider Activity

In other news, Director Amy Mcbride Wendell sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the completion of the transaction, the director now directly owns 97,899 shares of the company's stock, valued at $1,959,937.98. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the sale, the insider now owns 217,762 shares of the company's stock, valued at $3,810,835. This trade represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,173 shares of company stock valued at $589,237 over the last three months. Insiders own 2.78% of the company's stock.

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.