First Light Asset Management LLC Boosts Stock Position in AxoGen, Inc. (NASDAQ:AXGN)

First Light Asset Management LLC grew its stake in AxoGen, Inc. (NASDAQ:AXGN) by 336.6% during the second quarter, Holdings Channel.com reports. The fund owned 3,344,033 shares of the medical equipment provider’s stock after purchasing an additional 2,578,147 shares during the quarter. AxoGen makes up 2.1% of First Light Asset Management LLC’s investment portfolio, making the stock its 24th biggest position. First Light Asset Management LLC owned about 0.08% of AxoGen worth $24,211,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in AxoGen by 8.6% during the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock valued at $168,000 after buying an additional 1,651 shares during the period. Price T Rowe Associates Inc. MD raised its stake in AxoGen by 8.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock worth $240,000 after acquiring an additional 2,204 shares during the last quarter. Lazard Asset Management LLC lifted its stake in AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after acquiring an additional 2,671 shares during the period. Rhumbline Advisers raised its holdings in shares of AxoGen by 6.2% during the second quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock worth $421,000 after purchasing an additional 3,380 shares during the last quarter. Finally, Koss Olinger Consulting LLC acquired a new position in shares of AxoGen in the 2nd quarter valued at about $75,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AXGN. Raymond James started coverage on shares of AxoGen in a research note on Monday, July 1st. They issued an “outperform” rating and a $13.00 target price for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 price target on shares of AxoGen in a research note on Thursday, June 20th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Finally, JMP Securities upped their target price on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 9th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $13.80.

AxoGen Trading Down 0.8 %

Shares of AXGN stock opened at $13.97 on Tuesday. The company has a 50-day moving average of $11.44 and a two-hundred day moving average of $8.65. The firm has a market cap of $610.56 million, a PE ratio of -27.94 and a beta of 1.12. AxoGen, Inc. has a 1-year low of $3.45 and a 1-year high of $15.08. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.51 and a quick ratio of 2.32.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.10. The firm had revenue of $47.91 million for the quarter, compared to the consensus estimate of $43.27 million. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. On average, analysts predict that AxoGen, Inc. will post -0.33 EPS for the current year.

AxoGen 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.