GSA Capital Partners LLP Purchases 84,186 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Key Points

• GSA Capital Partners LLP increased its stake in AxoGen, Inc. by 599.9% in the first quarter, owning 98,219 shares valued at approximately $1.8 million.
• Director Joseph A. Tyndall sold 20,062 shares of AxoGen at an average price of $11.20, significantly reducing their stake by over 56%.
• Analyst ratings for AxoGen remain positive, with a consensus rating of "Buy" and an average price target of $24.50.

GSA Capital Partners LLP boosted its holdings in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 599.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 98,219 shares of the medical equipment provider's stock after buying an additional 84,186 shares during the period. GSA Capital Partners LLP owned 0.22% of AxoGen worth $1,817,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. State of Wyoming bought a new stake in AxoGen in the 4th quarter valued at $31,000. Fifth Third Bancorp bought a new stake in AxoGen in the 1st quarter valued at $92,000. GAMMA Investing LLC increased its holdings in AxoGen by 3,884.6% in the 1st quarter. GAMMA Investing LLC now owns 5,698 shares of the medical equipment provider's stock valued at $105,000 after acquiring an additional 5,555 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in AxoGen in the 1st quarter valued at $146,000. Finally, KLP Kapitalforvaltning AS bought a new stake in AxoGen in the 1st quarter valued at $150,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reduced their price target on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, AxoGen has an average rating of "Buy" and an average target price of $24.50.

Insider Transactions at AxoGen

In related news, Director Joseph A. Tyndall sold 20,062 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $11.20, for a total value of $224,694.40. Following the completion of the sale, the director directly owned 15,345 shares in the company, valued at $171,864. This trade represents a 56.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.78% of the stock is currently owned by corporate insiders.

AxoGen Trading Down 2.7%

NASDAQ AXGN traded down $0.36 during trading hours on Friday, hitting $12.73. 1,023,147 shares of the company were exchanged, compared to its average volume of 698,958. The stock has a 50-day moving average price of $11.19 and a 200 day moving average price of $14.93. The company has a quick ratio of 2.65, a current ratio of 4.28 and a debt-to-equity ratio of 0.63. AxoGen, Inc. has a 52 week low of $7.34 and a 52 week high of $21.00. The stock has a market cap of $579.82 million, a PE ratio of -84.59 and a beta of 1.04.

AxoGen Company 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.