Perceptive Advisors LLC Makes New Investment in AxoGen, Inc. $AXGN

Key Points

• Perceptive Advisors LLC opened a new position in AxoGen, buying 784,140 shares worth about $25.7 million and becoming a 1.70% owner, while institutional investors now hold about 80.29% of the company.
• Analysts remain mostly positive on AXGN, with nine Buy ratings and an average Moderate Buy rating; the consensus price target is $46.50, and several firms recently raised targets to $50.
• AxoGen’s stock was trading up 2.7% at $44.57, near its 52-week high, after reporting quarterly revenue above expectations but EPS below estimates; meanwhile, insiders have sold shares recently.

Perceptive Advisors LLC acquired a new position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 784,140 shares of the medical equipment provider's stock, valued at approximately $25,665,000. Perceptive Advisors LLC owned 1.70% of AxoGen as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its stake in AxoGen by 1.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider's stock worth $703,000 after buying an additional 371 shares during the period. Arax Advisory Partners grew its stake in AxoGen by 362.4% during 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. Brooklyn Investment Group grew its stake in AxoGen by 4.2% during the fourth quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider's stock worth $688,000 after buying an additional 823 shares during the period. MCF Advisors LLC acquired a new position in shares of AxoGen during the fourth quarter worth $30,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of AxoGen by 4.4% during 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 purchasing an additional 1,057 shares in the last quarter. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AXGN. Wall Street Zen cut shares of AxoGen from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Citizens Jmp boosted their target price on shares of AxoGen from $42.00 to $50.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 29th. HC Wainwright boosted their target price on shares of AxoGen from $39.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Canaccord Genuity Group boosted their target price on shares of AxoGen from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Lake Street Capital boosted their target price on shares of AxoGen from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Nine 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 company. According to MarketBeat.com, AxoGen currently has an average rating of "Moderate Buy" and an average price target of $46.50.

AxoGen Trading Up 2.7%

NASDAQ AXGN opened at $44.57 on Thursday. The company's fifty day simple moving average is $39.93 and its 200-day simple moving average is $34.93. AxoGen, Inc. has a 52 week low of $9.22 and a 52 week 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. The stock has a market cap of $2.37 billion, a P/E ratio of -69.64 and a beta of 1.12.

AxoGen (NASDAQ:AXGN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). The company had revenue of $61.46 million during the quarter, compared to analyst estimates of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. Equities research analysts predict that AxoGen, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity at AxoGen

In related news, Director Kathy Johnson Weiler sold 16,344 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $44.09, for a total value of $720,606.96. Following the sale, the director directly owned 16,344 shares of the company's stock, valued at $720,606.96. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Johnson sold 11,050 shares of the company's stock in a transaction 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 completion of the sale, the director directly owned 11,050 shares in the company, valued at $478,023. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,041 shares of company stock valued at $1,268,792 over the last ninety days. Corporate insiders own 2.44% of the company's stock.

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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