Exchange Traded Concepts LLC Increases Stake in AxoGen, Inc. $AXGN

Key Points

• Exchange Traded Concepts LLC increased its stake in AxoGen, Inc. by 50.9% during the 2nd quarter, owning about 0.17% of the company after acquiring an additional 26,077 shares.
• Institutional investors, including Vanguard and Invesco, have significantly raised their stakes in AxoGen, reflecting strong interest in the medical equipment provider.
• AxoGen received an upgrade from a "hold" to a "buy" rating from Wall Street Zen, with a consensus price target of $26.00 according to analysts.

Exchange Traded Concepts LLC grew its position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 50.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,312 shares of the medical equipment provider's stock after acquiring an additional 26,077 shares during the quarter. Exchange Traded Concepts LLC owned about 0.17% of AxoGen worth $839,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of AxoGen by 4.6% in the first quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider's stock valued at $46,964,000 after acquiring an additional 112,679 shares during the period. Driehaus Capital Management LLC raised its stake in shares of AxoGen by 22.8% in 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 acquiring an additional 217,590 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of AxoGen by 21.1% in 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 acquiring an additional 174,681 shares during the period. Parkman Healthcare Partners LLC raised its stake in shares of AxoGen by 46.8% in the first quarter. Parkman Healthcare Partners LLC now owns 536,832 shares of the medical equipment provider's stock valued at $9,931,000 after acquiring an additional 171,129 shares during the period. Finally, Invesco Ltd. raised its stake in shares of AxoGen by 2,124.5% in the first quarter. Invesco Ltd. now owns 382,429 shares of the medical equipment provider's stock valued at $7,075,000 after acquiring an additional 365,237 shares during the period. Hedge funds and other institutional investors own 80.29% of the company's stock.

AxoGen Trading Down 1.7%

NASDAQ AXGN opened at $17.30 on Wednesday. The company's 50-day moving average price is $14.86 and its 200-day moving average price is $14.15. The company has a current ratio of 4.14, a quick ratio of 2.67 and a debt-to-equity ratio of 0.59. The stock has a market cap of $795.97 million, a PE ratio of -172.98 and a beta of 1.03. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $21.00.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of AxoGen from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $26.00.

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.

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