Millennium Management LLC Has $4.94 Million Position in AxoGen, Inc. (NASDAQ:AXGN)

Millennium Management LLC cut its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 48.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 681,755 shares of the medical equipment provider’s stock after selling 634,391 shares during the quarter. Millennium Management LLC’s holdings in AxoGen were worth $4,936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Light Asset Management LLC lifted its position in AxoGen by 336.6% in 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 acquiring an additional 2,578,147 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in AxoGen by 2,014.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock valued at $9,490,000 after buying an additional 1,248,823 shares during the last quarter. Divisadero Street Capital Management LP increased its stake in 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 buying an additional 587,024 shares during the last quarter. Kent Lake Capital LLC acquired a new stake in AxoGen in the 1st quarter valued at $1,617,000. Finally, Roubaix Capital LLC acquired a new stake in AxoGen in the 1st quarter valued at $351,000. 80.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on AXGN. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price target on shares of AxoGen in a research note on Thursday, June 20th. Raymond James started coverage on shares of AxoGen in a research note on Monday, July 1st. They issued an “outperform” rating and a $13.00 price target on the stock. StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Finally, JMP Securities boosted 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. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, AxoGen presently has a consensus rating of “Buy” and an average target price of $13.80.

AxoGen Stock Performance

Shares of AXGN stock opened at $14.71 on Friday. The company has a market capitalization of $642.90 million, a price-to-earnings ratio of -29.42 and a beta of 1.13. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.32 and a current ratio of 3.51. AxoGen, Inc. has a 52 week low of $3.45 and a 52 week high of $15.08. The company has a 50-day simple moving average of $12.82 and a 200 day simple moving average of $9.24.

AxoGen (NASDAQ:AXGN) last released its quarterly 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 firm had revenue of $47.91 million for the quarter, compared to analysts’ expectations of $43.27 million. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. On average, sell-side analysts predict that AxoGen, Inc. will post -0.33 earnings per share for the current year.

AxoGen Company 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.