Balyasny Asset Management L.P. Acquires New Shares in AxoGen, Inc. (NASDAQ:AXGN)

Balyasny Asset Management L.P. acquired a new position in shares of AxoGen, Inc. (NASDAQ:AXGN) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 299,942 shares of the medical equipment provider’s stock, valued at approximately $4,943,000. Balyasny Asset Management L.P. owned about 0.68% of AxoGen at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of AxoGen during the fourth quarter valued at approximately $30,000. US Bancorp DE acquired a new position in AxoGen during the 4th quarter worth $30,000. Harvest Fund Management Co. Ltd bought a new position in shares of AxoGen in the fourth quarter worth $93,000. Fox Run Management L.L.C. acquired a new position in shares of AxoGen during the fourth quarter valued at $169,000. Finally, Sei Investments Co. bought a new stake in shares of AxoGen during the fourth quarter valued at about $188,000. 80.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AxoGen

In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the sale, the insider now directly owns 217,762 shares of the company’s stock, valued at $3,810,835. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s stock in a transaction on 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 owns 97,899 shares in the company, valued at $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 currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AXGN. Canaccord Genuity Group upped their price target 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $24.00 price objective on shares of AxoGen in a research note on Wednesday, March 5th. Finally, Lake Street Capital initiated coverage on AxoGen in a report on Monday, March 17th. They set a “buy” rating and a $30.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $22.60.

AxoGen Price Performance

AXGN opened at $11.36 on Friday. The firm has a market capitalization of $517.28 million, a P/E ratio of -35.50 and a beta of 1.19. The stock has a fifty day moving average of $16.74 and a 200-day moving average of $16.31. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. AxoGen, Inc. has a 12-month low of $5.65 and a 12-month high of $21.00.

AxoGen (NASDAQ:AXGN) last released its earnings results on Thursday, May 8th. The medical equipment provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.07). AxoGen had a negative net margin of 7.91% and a negative return on equity of 14.91%. Equities analysts forecast that AxoGen, Inc. will post -0.29 EPS for the current fiscal year.

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.