Timpani Capital Management LLC cut its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 6.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 160,101 shares of the medical equipment provider’s stock after selling 11,173 shares during the quarter. Timpani Capital Management LLC owned approximately 0.48% of AxoGen worth $2,682,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC increased its position in AxoGen by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock worth $113,000 after purchasing an additional 93 shares during the period. Campbell & CO Investment Adviser LLC increased its position in AxoGen by 3.2% in the first quarter. Campbell & CO Investment Adviser LLC now owns 11,055 shares of the medical equipment provider’s stock worth $116,000 after purchasing an additional 341 shares during the period. Bank of America Corp DE increased its position in AxoGen by 8.7% in the first quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock worth $106,000 after purchasing an additional 814 shares during the period. American International Group Inc. increased its position in AxoGen by 7.7% in the first quarter. American International Group Inc. now owns 14,941 shares of the medical equipment provider’s stock worth $156,000 after purchasing an additional 1,068 shares during the period. Finally, UBS Group AG increased its position in AxoGen by 8.3% in the first quarter. UBS Group AG now owns 16,141 shares of the medical equipment provider’s stock worth $169,000 after purchasing an additional 1,234 shares during the period. 66.77% of the stock is owned by institutional investors and hedge funds.
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In other news, Director Robert James Rudelius sold 16,143 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $18.00, for a total transaction of $290,574.00. Following the transaction, the director now directly owns 43,273 shares of the company’s stock, valued at $778,914. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.33% of the company’s stock.
Several research firms have recently issued reports on AXGN. Cantor Fitzgerald reiterated a “buy” rating and issued a $18.00 price objective on shares of AxoGen in a research report on Monday, August 21st. Roth Capital restated a “buy” rating and issued a $21.00 target price (up previously from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. BidaskClub cut AxoGen from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Leerink Swann started coverage on AxoGen in a research note on Monday, July 31st. They set an “outperform” rating and a $22.00 price objective on the stock. Finally, ValuEngine upgraded AxoGen from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $17.20.
AxoGen, Inc. (NASDAQ AXGN) traded up 0.82% during mid-day trading on Friday, hitting $18.50. The stock had a trading volume of 372,930 shares. The stock’s market capitalization is $614.94 million. AxoGen, Inc. has a 52 week low of $7.65 and a 52 week high of $18.75. The company’s 50 day moving average is $16.39 and its 200-day moving average is $14.01.
AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, August 2nd. The medical equipment provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $15.20 million during the quarter, compared to the consensus estimate of $14.40 million. AxoGen had a negative net margin of 27.50% and a negative return on equity of 114.64%. AxoGen’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. On average, analysts expect that AxoGen, Inc. will post ($0.31) EPS for the current fiscal year.
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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