ExodusPoint Capital Management LP Buys Shares of 43,739 AxoGen, Inc. (NASDAQ:AXGN)

ExodusPoint Capital Management LP purchased a new position in shares of AxoGen, Inc. (NASDAQ:AXGN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 43,739 shares of the medical equipment provider’s stock, valued at approximately $721,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in AxoGen by 8.3% during the fourth quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider’s stock worth $264,000 after purchasing an additional 1,228 shares during the last quarter. Rhumbline Advisers increased its position in shares of AxoGen by 2.7% in the fourth quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider’s stock valued at $960,000 after buying an additional 1,521 shares in the last quarter. R Squared Ltd acquired a new position in shares of AxoGen during the 4th quarter worth $30,000. US Bancorp DE acquired a new position in shares of AxoGen during the 4th quarter worth $30,000. Finally, Bradley Foster & Sargent Inc. CT boosted its position in shares of AxoGen by 3.7% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 84,153 shares of the medical equipment provider’s stock worth $1,387,000 after buying an additional 2,989 shares in the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $24.00 target price on shares of AxoGen in a report on Wednesday, March 5th. Canaccord Genuity Group raised their price objective on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Lake Street Capital began coverage on AxoGen in a research note on Monday, March 17th. They issued a “buy” rating and a $30.00 target price on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AxoGen presently has an average rating of “Buy” and an average target price of $22.60.

Insiders Place Their Bets

In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the sale, the insider now directly owns 217,762 shares of the company’s stock, valued at approximately $3,810,835. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the transaction, the director now directly owns 97,899 shares of the company’s stock, valued at approximately $1,959,937.98. This represents a 4.86 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

AxoGen Stock Performance

Shares of NASDAQ AXGN opened at $15.89 on Friday. The company has a 50-day simple moving average of $17.89 and a 200-day simple moving average of $16.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The company has a market cap of $704.63 million, a PE ratio of -49.66 and a beta of 1.00. AxoGen, Inc. has a 12 month low of $5.55 and a 12 month high of $21.00.

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.