Marshall Wace LLP Decreases Stock Position in AxoGen, Inc (NASDAQ:AXGN)

Marshall Wace LLP cut its stake in AxoGen, Inc (NASDAQ:AXGN) by 84.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,692 shares of the medical equipment provider’s stock after selling 1,217,773 shares during the period. Marshall Wace LLP owned approximately 0.58% of AxoGen worth $4,795,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantamental Technologies LLC raised its holdings in shares of AxoGen by 108.3% during the 1st quarter. Quantamental Technologies LLC now owns 1,431 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 744 shares in the last quarter. Cutler Group LP grew its position in AxoGen by 120.0% during the 1st quarter. Cutler Group LP now owns 2,200 shares of the medical equipment provider’s stock worth $46,000 after acquiring an additional 1,200 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in AxoGen during the 4th quarter worth $131,000. BNP Paribas Arbitrage SA grew its position 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 worth $149,000 after acquiring an additional 6,974 shares during the last quarter. Finally, Gabelli Funds LLC bought a new stake in AxoGen during the 1st quarter worth $202,000. 87.23% of the stock is owned by hedge funds and other institutional investors.

In other AxoGen news, Director Amy Mcbride Wendell bought 5,000 shares of AxoGen stock in a transaction dated Thursday, June 13th. The stock was bought at an average cost of $20.25 per share, with a total value of $101,250.00. Following the completion of the acquisition, the director now directly owns 23,333 shares in the company, valued at approximately $472,493.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael Patrick Donovan sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $20.00, for a total value of $400,000.00. Following the completion of the transaction, the vice president now directly owns 18,974 shares of the company’s stock, valued at $379,480. The disclosure for this sale can be found here. 6.77% of the stock is currently owned by corporate insiders.

A number of brokerages recently weighed in on AXGN. Cantor Fitzgerald restated a “buy” rating and set a $27.00 price objective on shares of Spero Therapeutics in a research report on Thursday, May 9th. Canaccord Genuity upped their price target on Cogeco Communications from C$97.00 to C$104.00 and gave the company a “buy” rating in a research report on Friday. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. BidaskClub lowered Virtu Financial from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 12th. Finally, BTIG Research reduced their price target on Verastem to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $36.50.

AXGN stock traded up $0.27 during trading on Friday, reaching $20.46. 621,862 shares of the stock were exchanged, compared to its average volume of 333,329. The business’s 50 day simple moving average is $20.33. AxoGen, Inc has a twelve month low of $14.13 and a twelve month high of $56.85. The company has a current ratio of 8.83, a quick ratio of 8.03 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $796.81 million, a price-to-earnings ratio of -37.89 and a beta of 0.25.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). AxoGen had a negative return on equity of 15.58% and a negative net margin of 29.19%. The firm had revenue of $23.30 million for the quarter, compared to analyst estimates of $22.33 million. During the same period last year, the company posted ($0.11) earnings per share. The firm’s quarterly revenue was up 34.7% compared to the same quarter last year. As a group, sell-side analysts predict that AxoGen, Inc will post -0.74 EPS for the current year.

AxoGen Company Profile

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.

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Institutional Ownership by Quarter for AxoGen (NASDAQ:AXGN)

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