AxoGen, Inc. (NASDAQ:AXGN) Position Lessened by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL trimmed its position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,551 shares of the medical equipment provider's stock after selling 24,801 shares during the period. Tudor Investment Corp ET AL owned approximately 0.20% of AxoGen worth $1,443,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXGN. Principal Financial Group Inc. lifted its holdings in AxoGen by 8.3% in the fourth quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider's stock worth $264,000 after acquiring an additional 1,228 shares during the last quarter. Rhumbline Advisers boosted its position in AxoGen by 2.7% during the 4th quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider's stock valued at $960,000 after purchasing an additional 1,521 shares during the period. R Squared Ltd acquired a new stake in AxoGen in the fourth quarter worth $30,000. US Bancorp DE bought a new stake in AxoGen in the fourth quarter valued at $30,000. Finally, MetLife Investment Management LLC increased its holdings in shares of AxoGen by 9.8% in the 4th quarter. MetLife Investment Management LLC now owns 26,034 shares of the medical equipment provider's stock worth $429,000 after acquiring an additional 2,319 shares during the period. Hedge funds and other institutional investors own 80.29% of the company's stock.

Insider Activity

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the sale, the director now directly owns 97,899 shares of the company's stock, valued at approximately $1,959,937.98. This represents a 4.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the transaction, the insider now owns 217,762 shares in the company, valued at $3,810,835. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on AXGN. Canaccord Genuity Group raised their price target on shares of AxoGen from $22.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $24.00 target price on shares of AxoGen in a research note on Wednesday, March 5th. Finally, Lake Street Capital started coverage on AxoGen in a research note on Monday, March 17th. They issued a "buy" rating and a $30.00 price target for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $22.60.

AxoGen Price Performance

NASDAQ:AXGN traded down $1.23 during mid-day trading on Friday, reaching $11.36. 1,705,642 shares of the stock were exchanged, compared to its average volume of 447,420. AxoGen, Inc. has a 1-year low of $5.65 and a 1-year high of $21.00. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $517.28 million, a PE ratio of -35.50 and a beta of 1.19. The business has a fifty day moving average price of $16.74 and a 200 day moving average price of $16.29.

AxoGen (NASDAQ:AXGN - Get Free Report) last issued its earnings results on Thursday, May 8th. The medical equipment provider reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.07). AxoGen had a negative return on equity of 14.91% and a negative net margin of 7.91%. Research analysts expect that AxoGen, Inc. will post -0.29 earnings per share for the current fiscal year.

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.