Silvercrest Asset Management Group LLC Buys 34,399 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Silvercrest Asset Management Group LLC grew its stake in AxoGen, Inc. (NASDAQ:AXGN) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 790,647 shares of the medical equipment provider’s stock after acquiring an additional 34,399 shares during the period. Silvercrest Asset Management Group LLC owned 1.81% of AxoGen worth $6,381,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC raised 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 worth $101,000 after buying an additional 4,666 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in AxoGen by 13.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 92,260 shares of the medical equipment provider’s stock worth $630,000 after purchasing an additional 11,000 shares during the period. Nisa Investment Advisors LLC raised its holdings in AxoGen by 534.6% in 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. Sentry Investment Management LLC acquired a new stake in AxoGen in the fourth quarter worth $131,000. Finally, White Pine Capital LLC raised its holdings in AxoGen by 127.1% in the fourth quarter. White Pine Capital LLC now owns 107,733 shares of the medical equipment provider’s stock worth $736,000 after purchasing an additional 60,300 shares during the period. 80.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

AxoGen Stock Down 1.0 %

Shares of AXGN stock traded down $0.09 during trading hours on Tuesday, hitting $8.82. 49,697 shares of the company were exchanged, 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 business has a 50 day moving average of $7.62 and a two-hundred day 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 released its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. The business had revenue of $41.38 million during 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, research analysts expect that AxoGen, Inc. will post -0.5 EPS for the current 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.