Exchange Traded Concepts LLC Sells 72,716 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Exchange Traded Concepts LLC lessened its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 49.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,742 shares of the medical equipment provider's stock after selling 72,716 shares during the quarter. Exchange Traded Concepts LLC owned 0.17% of AxoGen worth $1,048,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC bought a new position in AxoGen in the 3rd quarter valued at $227,000. Squarepoint Ops LLC raised its position 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 purchasing an additional 39,624 shares during the last quarter. First Light Asset Management LLC raised 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 purchasing an additional 2,578,147 shares during the last quarter. Divisadero Street Capital Management LP raised its position 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 purchasing an additional 587,024 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its position 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 purchasing an additional 41,095 shares during the last quarter. Institutional investors own 80.29% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on AXGN. Canaccord Genuity Group reissued a "buy" rating and issued a $15.00 target price on shares of AxoGen in a research note on Thursday, June 20th. JMP Securities lifted their target price on AxoGen from $17.00 to $20.00 and gave the company a "market outperform" rating in a research note on Friday, August 9th. Raymond James began coverage on AxoGen in a research note on Monday, July 1st. They issued an "outperform" rating and a $13.00 target price for the company. Finally, StockNews.com raised AxoGen from a "hold" rating to a "buy" rating in a research note on Tuesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $15.00.

AxoGen Trading Down 8.4 %

Shares of AxoGen stock traded down $1.22 during trading on Thursday, reaching $13.24. 443,663 shares of the company were exchanged, compared to its average volume of 401,495. 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, Inc. has a twelve month low of $3.45 and a twelve month high of $15.23. The business has a 50-day moving average price of $13.21 and a 200-day moving average price of $9.37. The firm has a market capitalization of $578.65 million, a price-to-earnings ratio of -26.62 and a beta of 1.13.

AxoGen (NASDAQ:AXGN - Get Free Report) last posted its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.10. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. The firm had revenue of $47.91 million during the quarter, compared to analysts' expectations of $43.27 million. Sell-side analysts anticipate that AxoGen, Inc. will post -0.33 EPS for the current fiscal 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.