nVerses Capital LLC Makes New Investment in AxoGen, Inc. (NASDAQ:AXGN)

nVerses Capital LLC acquired a new position in shares of AxoGen, Inc. (NASDAQ:AXGN) in the 3rd quarter, Holdings Channel reports. The fund acquired 4,000 shares of the medical equipment provider’s stock, valued at approximately $56,000.

A number of other large investors have also recently made changes to their positions in the stock. First Light Asset Management LLC lifted its position in 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 worth $24,211,000 after acquiring an additional 2,578,147 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of AxoGen by 2,014.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock worth $9,490,000 after purchasing an additional 1,248,823 shares during the period. Divisadero Street Capital Management LP boosted its position in AxoGen by 587.2% in the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after buying an additional 587,024 shares during the last quarter. Kent Lake Capital LLC acquired a new position in AxoGen in the 1st quarter worth approximately $1,617,000. Finally, Roubaix Capital LLC purchased a new position in AxoGen during the 1st quarter worth approximately $351,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AXGN has been the topic of a number of research reports. JMP Securities increased their price objective on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 9th. Raymond James started coverage on shares of AxoGen in a report on Monday, July 1st. They issued an “outperform” rating and a $13.00 price target on the stock. Finally, StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, AxoGen has an average rating of “Buy” and an average target price of $15.00.

AxoGen Stock Performance

AXGN opened at $13.15 on Tuesday. The firm has a fifty day moving average price of $13.35 and a 200 day moving average price of $9.50. AxoGen, Inc. has a 1 year low of $3.45 and a 1 year high of $15.23. The stock has a market cap of $574.72 million, a P/E ratio of -26.30 and a beta of 1.13. 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 earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. The business had revenue of $47.91 million for the quarter, compared to analyst estimates of $43.27 million. Equities research analysts anticipate that AxoGen, Inc. will post -0.33 earnings per share for the current year.

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.