Perceptive Advisors LLC Decreases Holdings in AxoGen, Inc. $AXGN

Key Points

• Perceptive Advisors reduced its AxoGen stake by 11.1% in the first quarter, selling 86,828 shares and retaining 697,312 shares worth approximately $23.1 million. Institutional investors collectively own 80.29% of AXGN.
• AxoGen reported quarterly EPS of $0.12, in line with analyst estimates, while revenue of $69.73 million exceeded expectations of $67.10 million. However, the company continued to post negative profitability metrics, including a 13.36% net margin.
• Analyst sentiment remains generally positive: nine analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and a $51 price target. Canaccord Genuity and HC Wainwright recently raised their targets to $55 and $53, respectively.

Perceptive Advisors LLC trimmed its position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 11.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 697,312 shares of the medical equipment provider's stock after selling 86,828 shares during the quarter. Perceptive Advisors LLC owned 1.31% of AxoGen worth $23,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AXGN. MCF Advisors LLC purchased a new stake in AxoGen during the fourth quarter valued at $30,000. Aquatic Capital Management LLC lifted its holdings in AxoGen by 287.8% in the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider's stock valued at $31,000 after acquiring an additional 1,269 shares during the period. Arax Advisory Partners lifted its holdings in AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider's stock valued at $34,000 after acquiring an additional 819 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in AxoGen in the fourth quarter worth about $36,000. Finally, Kestra Advisory Services LLC purchased a new position in AxoGen in the fourth quarter worth about $39,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Stock Performance

NASDAQ:AXGN opened at $42.21 on Friday. The stock has a 50-day simple moving average of $42.13 and a two-hundred day simple moving average of $37.37. AxoGen, Inc. has a 52-week low of $12.39 and a 52-week high of $46.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.33 and a current ratio of 6.60. The firm has a market capitalization of $2.27 billion, a PE ratio of -62.07 and a beta of 1.09.

AxoGen (NASDAQ:AXGN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, hitting analysts' consensus estimates of $0.12. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%.The business had revenue of $69.73 million during the quarter, compared to analysts' expectations of $67.10 million. Analysts forecast that AxoGen, Inc. will post -0.37 EPS for the current year.

Insider Activity at AxoGen

In related news, Director Amy Mcbride Wendell sold 1,647 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $42.60, for a total value of $70,162.20. Following the completion of the sale, the director directly owned 93,826 shares of the company's stock, valued at approximately $3,996,987.60. This represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Johnson sold 11,050 shares of AxoGen stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $43.26, for a total transaction of $478,023.00. Following the transaction, the director directly owned 11,050 shares in the company, valued at $478,023. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 29,041 shares of company stock worth $1,268,792. 2.44% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AXGN has been the subject of several research reports. Canaccord Genuity Group upped their price target on shares of AxoGen from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday. HC Wainwright raised their price objective on shares of AxoGen from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Thursday. Weiss Ratings restated a "sell (d-)" rating on shares of AxoGen in a research report on Friday, May 29th. Lake Street Capital boosted their target price on shares of AxoGen from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Finally, Wall Street Zen raised shares of AxoGen from a "hold" rating to a "buy" rating in a report on Sunday, July 26th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $51.00.

AxoGen 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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