AxoGen, Inc. (NASDAQ:AXGN) Stake Cut by Millennium Management LLC

Millennium Management LLC lessened its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 48.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 681,755 shares of the medical equipment provider's stock after selling 634,391 shares during the quarter. Millennium Management LLC owned approximately 1.56% of AxoGen worth $4,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXGN. Squarepoint Ops LLC grew its holdings in AxoGen by 186.1% in the 2nd quarter. Squarepoint Ops LLC now owns 60,913 shares of the medical equipment provider's stock valued at $441,000 after buying an additional 39,624 shares during the period. First Light Asset Management LLC grew its holdings 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 buying an additional 2,578,147 shares during the period. Divisadero Street Capital Management LP grew its holdings 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 period. Rice Hall James & Associates LLC grew its holdings in AxoGen by 26.8% in the 2nd quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider's stock valued at $1,407,000 after buying an additional 41,095 shares during the period. Finally, Koss Olinger Consulting LLC purchased a new stake in AxoGen in the 2nd quarter valued at about $75,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

Analyst Ratings Changes

AXGN has been the subject of a number of research reports. StockNews.com upgraded AxoGen from a "hold" rating to a "buy" rating in a report on Friday, October 4th. Canaccord Genuity Group reiterated a "buy" rating and set a $15.00 target price on shares of AxoGen in a report on Thursday, June 20th. JMP Securities boosted their target price on AxoGen from $17.00 to $20.00 and gave the stock a "market outperform" rating in a report on Friday, August 9th. Finally, Raymond James began coverage on AxoGen in a research report on Monday, July 1st. They set an "outperform" rating and a $13.00 price target on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $13.80.

AxoGen Stock Up 8.2 %

Shares of AXGN traded up $1.11 during trading on Friday, reaching $14.71. The company's stock had a trading volume of 1,024,043 shares, compared to its average volume of 402,098. The company has a fifty day moving average of $12.82 and a two-hundred day moving average of $9.25. AxoGen, Inc. has a twelve month low of $3.45 and a twelve month high of $15.08. The company has a market cap of $642.90 million, a price-to-earnings ratio of -29.42 and a beta of 1.13. 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 (NASDAQ:AXGN - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.10. The business had revenue of $47.91 million during the quarter, compared to the consensus estimate of $43.27 million. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. On average, sell-side analysts predict that AxoGen, Inc. will post -0.33 EPS for the current fiscal year.

About AxoGen

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.