Wrapmanager Inc. Purchases New Holdings in AxoGen, Inc (AXGN)

Wrapmanager Inc. purchased a new position in AxoGen, Inc (NASDAQ:AXGN) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 20,759 shares of the medical equipment provider’s stock, valued at approximately $437,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quantamental Technologies LLC raised its stake in AxoGen by 108.3% during the 1st quarter. Quantamental Technologies LLC now owns 1,431 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 744 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in AxoGen during the 4th quarter valued at $77,000. NumerixS Investment Technologies Inc bought a new stake in AxoGen during the 4th quarter valued at $131,000. BNP Paribas Arbitrage SA raised its stake in AxoGen by 8,717.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,054 shares of the medical equipment provider’s stock valued at $149,000 after acquiring an additional 6,974 shares in the last quarter. Finally, Citigroup Inc. raised its stake in AxoGen by 17.4% during the 4th quarter. Citigroup Inc. now owns 9,905 shares of the medical equipment provider’s stock valued at $202,000 after acquiring an additional 1,467 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on AXGN. ValuEngine raised AxoGen from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price (up previously from $26.00) on shares of AxoGen in a research note on Thursday, May 9th. BTIG Research reaffirmed a “buy” rating and set a $29.00 target price on shares of AxoGen in a research note on Friday. Finally, BidaskClub upgraded AxoGen from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Five research analysts have rated the stock with a buy rating, AxoGen has an average rating of “Buy” and a consensus target price of $38.00.



Shares of AXGN stock traded up $0.12 during mid-day trading on Tuesday, hitting $23.23. 4,892 shares of the stock traded hands, compared to its average volume of 649,115. AxoGen, Inc has a twelve month low of $14.13 and a twelve month high of $56.85. The stock has a market cap of $931.57 million, a PE ratio of -42.85 and a beta of 0.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.65 and a current ratio of 8.83.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). AxoGen had a negative net margin of 29.19% and a negative return on equity of 15.58%. The firm had revenue of $23.30 million for the quarter, compared to analyst estimates of $22.33 million. During the same quarter last year, the business posted ($0.11) earnings per share. The firm’s revenue for the quarter was up 34.7% compared to the same quarter last year. Equities research analysts predict that AxoGen, Inc will post -0.61 earnings per share for the current year.

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About AxoGen

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

Further Reading: Elliott Wave Theory

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Institutional Ownership by Quarter for AxoGen (NASDAQ:AXGN)

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