Silvercrest Asset Management Group LLC Boosts Stock Position in AxoGen, Inc. (NASDAQ:AXGN)

Silvercrest Asset Management Group LLC lifted its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 4.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 790,647 shares of the medical equipment provider’s stock after purchasing an additional 34,399 shares during the period. Silvercrest Asset Management Group LLC’s holdings in AxoGen were worth $6,381,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AXGN. Nisa Investment Advisors LLC boosted its holdings in shares of AxoGen by 534.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,805 shares of the medical equipment provider’s stock worth $53,000 after purchasing an additional 6,575 shares during the period. Lazard Asset Management LLC increased its stake in shares of AxoGen by 30.1% during the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after purchasing an additional 2,671 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of AxoGen by 45.9% during the fourth quarter. SG Americas Securities LLC now owns 14,823 shares of the medical equipment provider’s stock valued at $101,000 after purchasing an additional 4,666 shares in the last quarter. Sentry Investment Management LLC bought a new position in shares of AxoGen during the fourth quarter valued at approximately $131,000. Finally, BNP Paribas Financial Markets increased its stake in shares of AxoGen by 8.6% during the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock valued at $168,000 after purchasing an additional 1,651 shares in the last quarter. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Trading Down 1.0 %

Shares of AXGN stock traded down $0.09 on Tuesday, hitting $8.82. 49,697 shares of the stock traded hands, compared to its average volume of 371,303. AxoGen, Inc. has a 52 week low of $3.45 and a 52 week high of $10.83. The firm has a 50 day simple moving average of $7.62 and a two-hundred day simple moving average of $7.98. The company has a quick ratio of 2.23, a current ratio of 3.43 and a debt-to-equity ratio of 0.72.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.04. The firm had revenue of $41.38 million for the quarter, compared to the consensus estimate of $42.05 million. AxoGen had a negative net margin of 12.99% and a negative return on equity of 22.18%. As a group, equities research analysts anticipate that AxoGen, Inc. will post -0.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of AxoGen from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Canaccord Genuity Group restated a “buy” rating and issued a $15.00 target price on shares of AxoGen in a report on Thursday, June 20th. Finally, Raymond James started coverage on shares of AxoGen in a research note on Monday, July 1st. They set an “outperform” rating and a $13.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

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.