AxoGen, Inc. (NASDAQ:AXGN) Stock Holdings Lifted by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP lifted its position in AxoGen, Inc. (NASDAQ:AXGN) by 587.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 686,994 shares of the medical equipment provider’s stock after acquiring an additional 587,024 shares during the quarter. Divisadero Street Capital Management LP owned approximately 1.57% of AxoGen worth $4,974,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Panagora Asset Management Inc. raised its stake in AxoGen by 69.8% during the 4th quarter. Panagora Asset Management Inc. now owns 165,461 shares of the medical equipment provider’s stock valued at $1,130,000 after purchasing an additional 68,001 shares during the period. Keeley Teton Advisors LLC lifted its stake in AxoGen by 135.3% in the 4th quarter. Keeley Teton Advisors LLC now owns 84,725 shares of the medical equipment provider’s stock worth $579,000 after acquiring an additional 48,725 shares in the last quarter. BNP Paribas Financial Markets boosted its position in AxoGen by 8.6% during the 1st quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock worth $168,000 after acquiring an additional 1,651 shares during the period. Roubaix Capital LLC purchased a new position in AxoGen during the 1st quarter valued at about $351,000. Finally, Lazard Asset Management LLC increased its holdings in shares of AxoGen by 30.1% in the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after purchasing an additional 2,671 shares during the period. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AXGN. Canaccord Genuity Group restated a “buy” rating and set a $15.00 price target on shares of AxoGen in a report on Thursday, June 20th. StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday. JMP Securities upped their price target 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. Finally, Raymond James initiated coverage on AxoGen in a research report on Monday, July 1st. They set an “outperform” rating and a $13.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $13.80.

AxoGen Stock Performance

Shares of AXGN opened at $14.67 on Friday. The company has a quick ratio of 2.32, a current ratio of 3.51 and a debt-to-equity ratio of 0.70. AxoGen, Inc. has a 12 month low of $3.45 and a 12 month high of $15.08. The company’s fifty day moving average is $11.09 and its 200-day moving average is $8.56. The firm has a market cap of $641.15 million, a price-to-earnings ratio of -29.34 and a beta of 1.12.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share 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 analyst estimates of $43.27 million. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. Equities analysts expect that AxoGen, Inc. will post -0.33 EPS for the current fiscal 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.