Globeflex Capital L P Buys New Holdings in AxoGen, Inc. $AXGN

Key Points

• Globeflex Capital initiated a position in AxoGen, purchasing 58,497 shares worth approximately $2.7 million. Institutional investors collectively own 80.29% of the company.
• Analyst sentiment remains generally positive, with nine Buy ratings, one Hold, and one Sell; the consensus rating is Moderate Buy with an average price target of $51.
• AxoGen reported quarterly earnings of $0.12 per share, in line with estimates, while revenue of $69.73 million exceeded expectations. However, insiders sold 95,003 shares worth about $4.5 million over the past three months.

Globeflex Capital L P purchased a new position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 58,497 shares of the medical equipment provider's stock, valued at approximately $2,702,000. Globeflex Capital L P owned about 0.11% of AxoGen at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. MCF Advisors LLC purchased a new stake in shares of AxoGen during the fourth quarter valued at approximately $30,000. Aquatic Capital Management LLC increased its stake in shares of AxoGen by 287.8% in the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider's stock worth $31,000 after buying an additional 1,269 shares during the period. Arax Advisory Partners increased its stake in shares of AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider's stock worth $34,000 after buying an additional 819 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in AxoGen during the 4th quarter valued at $36,000. Finally, Kestra Advisory Services LLC bought a new stake in AxoGen during the 4th quarter valued at $39,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AXGN shares. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 price target on shares of AxoGen in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AxoGen in a research note on Friday, May 29th. Truist Financial set a $55.00 target price on shares of AxoGen in a report on Thursday, July 30th. Citigroup reissued a "market outperform" rating on shares of AxoGen in a research note on Thursday, July 30th. Finally, Raymond James Financial restated an "outperform" rating and set a $48.00 price target on shares of AxoGen in a report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $51.00.

Insider Buying and Selling

In other AxoGen news, EVP Marc A. Began sold 67,500 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $47.34, for a total value of $3,195,450.00. Following the completion of the sale, the executive vice president directly owned 50,135 shares in the company, valued at $2,373,390.90. This trade represents a 57.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Mcbride Wendell sold 13,353 shares of AxoGen stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total value of $646,552.26. Following the sale, the director directly owned 107,976 shares in the company, valued at approximately $5,228,197.92. The trade was a 11.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 95,003 shares of company stock valued at $4,482,997 over the last three months. Corporate insiders own 2.44% of the company's stock.

AxoGen Price Performance

Shares of AxoGen stock opened at $50.40 on Monday. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07. AxoGen, Inc. has a 12-month low of $13.64 and a 12-month high of $51.06. The company has a market cap of $2.71 billion, a P/E ratio of -74.12 and a beta of 1.11. The company's fifty day simple moving average is $44.11 and its two-hundred day simple moving average is $38.98.

AxoGen (NASDAQ:AXGN - Get Free Report) last posted its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The firm had revenue of $69.73 million during the quarter, compared to analysts' expectations of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. Research analysts anticipate that AxoGen, Inc. will post -0.45 EPS for the current year.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen's offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company's core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.

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