BlackRock Fund Advisors recently announced the acquisition of new stake in AxoGen Inc. (NASDAQ:AXGN). The institutional investor has increased its shareholding in the Healthcare company by 0.10% to 2.52 million shares with purchase of 2599.0 shares. This fresh investment now brings its stake to 5.97% valued currently at $25.18 million. In addition, Point72 Asset Management LP raised its holdings by 77200.0 to 2.16 million shares. And The Vanguard Group, Inc. has lifted its position by 0.78% or 14083.0 shares – to 1.83 million shares.
With over 0.25 million AxoGen Inc. (AXGN) shares trading Friday and a closing price of $10.62 on the day, the dollar volume was approximately $2.64 million. The shares have shown a positive half year performance of 23.78% and its price on 01/13/23 gained nearly 11.91%. Currently, there are 42.22M common shares owned by the public and among those 39.38M shares have been available to trade.
The analysts have set the share’s price value over the next 12 months at a high of $21.00 and a low of $15.00. The average price target is 38.15% above its recent price level and an upside to the estimated low will see the stock gain 29.2% over that period. But an upside of 49.43% will see the stock hit the forecast high price target while median target price for the stock is $18.00.
Insiders at the company have transacted a total of 87 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 47 of these insider trades were purchases, accounting for 331,741 shares. Insider sales of the common stock occurred on 40 occasions, with total insider shares sold totaling 165,511 shares.
The top 3 mutual fund holders in AxoGen Inc. are Vanguard Explorer Fund, Janus Henderson Venture Fund, and Vanguard Total Stock Market Index. Vanguard Explorer Fund owns 1.52 million shares of the company’s stock, all valued at over $15.18 million. The company sold 57159.0 shares recently to bring their total holdings to about 3.60% of the shares outstanding. Janus Henderson Venture Fund sold -0.12 million shares to see its total holdings shrink to 1.32 million shares valued at over $13.22 million and representing 3.13% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.34% of the shares outstanding.
Shares of AxoGen Inc. (NASDAQ: AXGN) opened at $9.38, down -$0.11 from a prior closing price of $9.49. However, the script later moved the day high at 10.82, up 11.91%. The company’s stock has a 5-day price change of -1.39% and -6.84% over the past three months. AXGN shares are trading 6.41% year to date (YTD), with the 12-month market performance up to 13.95% higher. It has a 12-month low price of $6.87 and touched a high of $13.66 over the same period. AXGN has an average intraday trading volume of 203.04K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.21%, -1.88%, and 7.53% respectively.
Institutional ownership of AxoGen Inc. (NASDAQ: AXGN) shares accounts for 80.00% of the company’s 42.22M shares outstanding. Mutual fund holders own 33.52%, while other institutional holders and individual stakeholders account for 42.92% and 25.23% respectively.
It has a market capitalization of $401.33M and a beta (3y monthly) value of 0.52. The earnings-per-share (ttm) stands at -$0.69. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.49% over the week and 5.80% over the month.
Analysts forecast that AxoGen Inc. (AXGN) will achieve an EPS of -$0.12 for the current quarter, -$0.08 for the next quarter and -$0.45 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.16 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was -$0.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -10.00%, and -13.20% over the next financial year.
Looking at the support for the AXGN, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on November 11, 2022, with the firm’s price target at $15. Canaccord Genuity coverage for the AxoGen Inc. (AXGN) stock in a research note released on May 09, 2022 offered a Buy rating with a price target of $15. Cantor Fitzgerald was of a view on March 11, 2022 that the stock is Overweight, while Guggenheim gave the stock Buy rating on October 23, 2020, issuing a price target of $24. Cantor Fitzgerald on their part issued Overweight rating on June 16, 2020.