Exchange Traded Concepts LLC Sells 72,716 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Exchange Traded Concepts LLC trimmed its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 49.3% during the 3rd quarter, Holdings Channel reports. The fund owned 74,742 shares of the medical equipment provider’s stock after selling 72,716 shares during the period. Exchange Traded Concepts LLC’s holdings in AxoGen were worth $1,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXGN. SG Americas Securities LLC purchased a new stake in AxoGen during the third quarter valued at $227,000. Squarepoint Ops LLC increased its holdings in shares of AxoGen by 186.1% in the 2nd quarter. Squarepoint Ops LLC now owns 60,913 shares of the medical equipment provider’s stock worth $441,000 after buying an additional 39,624 shares during the last quarter. First Light Asset Management LLC raised its position in shares of AxoGen by 336.6% during the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock valued at $24,211,000 after buying an additional 2,578,147 shares in the last quarter. Divisadero Street Capital Management LP lifted its holdings in shares of AxoGen by 587.2% in the 2nd quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after acquiring an additional 587,024 shares during the last quarter. Finally, Rice Hall James & Associates LLC grew 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 worth $1,407,000 after acquiring an additional 41,095 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday. JMP Securities increased their price target on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 9th. Raymond James started coverage on AxoGen in a research report on Monday, July 1st. They issued an “outperform” rating and a $13.00 price target for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 price objective on shares of AxoGen in a research report on Thursday, June 20th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AxoGen currently has a consensus rating of “Buy” and an average target price of $15.00.

AxoGen Trading Up 0.8 %

AXGN opened at $14.46 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.32 and a current ratio of 3.51. The stock’s 50 day moving average price is $13.21 and its 200-day moving average price is $9.37. AxoGen, Inc. has a one year low of $3.45 and a one year high of $15.23. The stock has a market cap of $631.97 million, a price-to-earnings ratio of -28.92 and a beta of 1.13.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.10. The company 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, equities analysts forecast 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.