AxoGen, Inc. (NASDAQ:AXGN) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lessened its position in AxoGen, Inc. (NASDAQ:AXGN) by 21.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 292,214 shares of the medical equipment provider’s stock after selling 81,023 shares during the period. Panagora Asset Management Inc. owned approximately 0.67% of AxoGen worth $2,116,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC lifted its stake in shares of AxoGen by 30.1% in the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after purchasing an additional 2,671 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of AxoGen by 8.6% in the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock valued at $168,000 after purchasing an additional 1,651 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of AxoGen by 8.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock valued at $240,000 after purchasing an additional 2,204 shares during the period. Roubaix Capital LLC acquired a new stake in shares of AxoGen in the first quarter valued at about $351,000. Finally, M&T Bank Corp lifted its stake in shares of AxoGen by 18.2% in the fourth quarter. M&T Bank Corp now owns 56,780 shares of the medical equipment provider’s stock valued at $388,000 after purchasing an additional 8,744 shares during the period. Institutional investors and hedge funds own 80.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AXGN. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price objective on shares of AxoGen in a research note on Thursday, June 20th. Raymond James initiated coverage on shares of AxoGen in a research note on Monday, July 1st. They issued an “outperform” rating and a $13.00 price objective for the company. JMP Securities lifted their target price on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 9th. Finally, StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $13.80.

AxoGen Stock Performance

Shares of AXGN opened at $13.15 on Friday. The company has a current ratio of 3.43, a quick ratio of 2.23 and a debt-to-equity ratio of 0.72. The stock has a market cap of $574.72 million, a P/E ratio of -26.30 and a beta of 1.11. The company has a 50-day moving average of $9.52 and a two-hundred day moving average of $8.28. AxoGen, Inc. has a 12-month low of $3.45 and a 12-month high of $13.20.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $47.91 million during the quarter, compared to the consensus estimate of $43.27 million. AxoGen had a negative net margin of 12.99% and a negative return on equity of 22.18%. As a group, research analysts predict that AxoGen, Inc. will post -0.5 EPS 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.