Lisanti Capital Growth LLC Makes New $3.57 Million Investment in AxoGen, Inc. $AXGN

Key Points

• Lisanti Capital Growth LLC opened a new position in AxoGen during the fourth quarter, buying 109,175 shares worth about $3.57 million. The stake represented roughly 0.24% of the company.
• Several other institutional investors also increased their AxoGen holdings, and institutions now own about 80.29% of the stock. Recent analyst action has been mostly positive, with multiple firms raising price targets and the consensus rating sitting at Moderate Buy.
• AxoGen’s latest earnings came in mixed: the company reported $0.07 EPS, missing estimates, but revenue of $61.46 million topped expectations. Shares were trading around $40.90, near their 12-month high of $45.83.

Lisanti Capital Growth LLC purchased a new position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 109,175 shares of the medical equipment provider's stock, valued at approximately $3,573,000. Lisanti Capital Growth LLC owned approximately 0.24% of AxoGen as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in AXGN. Royal Bank of Canada boosted its holdings in AxoGen by 14.2% in the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider's stock worth $704,000 after acquiring an additional 4,723 shares in the last quarter. AQR Capital Management LLC boosted its holdings in AxoGen by 45.3% in the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider's stock worth $442,000 after acquiring an additional 7,453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in AxoGen by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider's stock worth $466,000 after acquiring an additional 1,057 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in AxoGen by 104,810.0% in the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider's stock worth $194,000 after acquiring an additional 10,481 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in AxoGen by 37.3% in the second quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider's stock worth $4,113,000 after acquiring an additional 103,072 shares in the last quarter. Institutional investors own 80.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AXGN shares. Wall Street Zen upgraded AxoGen from a "hold" rating to a "buy" rating in a report on Saturday. Lake Street Capital raised their target price on AxoGen from $40.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. HC Wainwright raised their target price on AxoGen from $39.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Canaccord Genuity Group raised their target price on AxoGen from $45.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company raised their target price on AxoGen from $40.00 to $48.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $46.50.

AxoGen Stock Performance

Shares of AxoGen stock opened at $40.90 on Friday. The business's fifty day simple moving average is $36.62 and its 200 day simple moving average is $32.78. The firm has a market capitalization of $2.18 billion, a P/E ratio of -63.91 and a beta of 1.17. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $45.83. The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08.

AxoGen (NASDAQ:AXGN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.05). The business had revenue of $61.46 million for the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. As a group, analysts anticipate that AxoGen, Inc. will post -0.3 EPS for the current year.

Insiders Place Their Bets

In related news, Director John Johnson sold 11,050 shares of AxoGen stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total transaction of $478,023.00. Following the sale, the director directly owned 11,050 shares in the company, valued at approximately $478,023. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy Mcbride Wendell sold 1,647 shares of AxoGen stock in a transaction on Friday, May 8th. The stock was sold at an average price of $42.60, for a total value of $70,162.20. Following the sale, the director owned 93,826 shares in the company, valued at $3,996,987.60. This trade represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 34,262 shares of company stock valued at $1,440,250. 2.44% of the stock is owned by insiders.

About AxoGen

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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