Tocqueville Asset Management L.P. Acquires New Position in AxoGen, Inc. $AXGN

Tocqueville Asset Management L.P. purchased a new stake in shares of AxoGen, Inc. (NASDAQ:AXGN) during the second quarter, HoldingsChannel reports. The institutional investor purchased 173,900 shares of the medical equipment provider’s stock, valued at approximately $8,032,000.

Other large investors also recently bought and sold shares of the company. MCF Advisors LLC bought a new stake in shares of AxoGen in the fourth quarter worth approximately $30,000. Arax Advisory Partners raised its holdings in AxoGen by 362.4% in the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 819 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in AxoGen in the 4th quarter worth $36,000. Kestra Advisory Services LLC purchased a new position in AxoGen during the fourth quarter valued at $39,000. Finally, KBC Group NV purchased a new position in AxoGen during the first quarter valued at $41,000. 80.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on AXGN shares. Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Canaccord Genuity Group raised their price objective on AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of AxoGen in a research report on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research note on Friday, May 29th. Finally, Citizens Jmp increased their target price on shares of AxoGen from $50.00 to $55.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AxoGen has an average rating of “Moderate Buy” and an average target price of $51.00.

AxoGen Trading Down 2.5%

Shares of AXGN opened at $48.93 on Thursday. The firm has a market cap of $2.63 billion, a P/E ratio of -71.95 and a beta of 1.11. The company has a 50 day simple moving average of $43.88 and a two-hundred day simple moving average of $38.79. AxoGen, Inc. has a 1 year low of $13.64 and a 1 year high of $50.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The business had revenue of $69.73 million for the quarter, compared to analysts’ expectations of $67.10 million. On average, equities analysts expect that AxoGen, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 13,353 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total transaction of $646,552.26. Following the completion of the transaction, the director owned 107,976 shares in the company, valued at $5,228,197.92. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Johnson Weiler sold 14,150 shares of AxoGen stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $45.30, for a total value of $640,995.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 95,003 shares of company stock worth $4,482,997 in the last quarter. 2.44% of the stock is owned by corporate insiders.

About AxoGen

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.