AxoGen, Inc. (NASDAQ:AXGN) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 13.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,332 shares of the medical equipment provider’s stock after selling 4,809 shares during the period. Hsbc Holdings PLC’s holdings in AxoGen were worth $222,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in AxoGen by 2,014.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock valued at $9,490,000 after buying an additional 1,248,823 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of AxoGen by 177.0% during the 1st quarter. First Light Asset Management LLC now owns 765,886 shares of the medical equipment provider’s stock worth $6,181,000 after purchasing an additional 489,397 shares during the period. Kent Lake Capital LLC acquired a new stake in AxoGen in the 1st quarter valued at approximately $1,617,000. Roubaix Capital LLC acquired a new stake in AxoGen in the 1st quarter valued at approximately $351,000. Finally, Rice Hall James & Associates LLC raised its position in AxoGen by 26.8% in the second quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider’s stock valued at $1,407,000 after purchasing an additional 41,095 shares during the period. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Stock Up 2.5 %

Shares of NASDAQ AXGN opened at $13.67 on Friday. AxoGen, Inc. has a 12-month low of $3.45 and a 12-month high of $15.08. The stock has a market cap of $597.45 million, a P/E ratio of -27.34 and a beta of 1.13. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70. The business’s fifty day simple moving average is $12.20 and its 200-day simple moving average is $8.97.

AxoGen (NASDAQ:AXGN) last announced 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. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. The business had revenue of $47.91 million during the quarter, compared to analysts’ expectations of $43.27 million. As a group, equities analysts predict that AxoGen, Inc. will post -0.33 EPS for the current fiscal year.

Analyst Ratings Changes

AXGN has been the subject of several research analyst reports. StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a research report on Friday. Raymond James assumed coverage on AxoGen in a report on Monday, July 1st. They set an “outperform” rating and a $13.00 target price for the company. JMP Securities lifted their target price on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 9th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $15.00 price target on shares of AxoGen in a research report on Thursday, June 20th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $13.80.

About AxoGen

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.