AxoGen, Inc. (NASDAQ:AXGN) Stock Holdings Lifted by First Light Asset Management LLC

First Light Asset Management LLC raised its stake in AxoGen, Inc. (NASDAQ:AXGN) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,506,795 shares of the medical equipment provider’s stock after purchasing an additional 416,499 shares during the quarter. AxoGen accounts for 7.1% of First Light Asset Management LLC’s investment portfolio, making the stock its 3rd biggest holding. First Light Asset Management LLC owned about 10.24% of AxoGen worth $74,272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in AxoGen by 2,912.3% during the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock worth $7,697,000 after purchasing an additional 530,775 shares during the last quarter. Raymond James Financial Inc. acquired a new position in AxoGen during the fourth quarter worth $4,552,000. Russell Investments Group Ltd. raised its holdings in AxoGen by 49,604.4% during the fourth quarter. Russell Investments Group Ltd. now owns 148,119 shares of the medical equipment provider’s stock worth $2,441,000 after purchasing an additional 147,821 shares during the last quarter. Dimensional Fund Advisors LP increased its position in AxoGen by 13.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider’s stock worth $12,735,000 after buying an additional 91,984 shares in the last quarter. Finally, Norges Bank purchased a new position in AxoGen during the fourth quarter worth $1,269,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Stock Performance

AxoGen stock opened at $16.40 on Monday. The company has a market cap of $727.24 million, a price-to-earnings ratio of -51.25 and a beta of 1.00. AxoGen, Inc. has a 12 month low of $5.55 and a 12 month high of $21.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The stock’s 50-day moving average is $17.43 and its 200-day moving average is $16.20.

Insider Activity at AxoGen

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value of $100,100.00. Following the transaction, the director now owns 97,899 shares in the company, valued at approximately $1,959,937.98. This trade represents a 4.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction 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. This trade represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on AXGN. Cantor Fitzgerald reissued an “overweight” rating and set a $24.00 price target on shares of AxoGen in a research report on Wednesday, March 5th. Canaccord Genuity Group raised their price target on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Lake Street Capital began coverage on AxoGen in a research report on Monday, March 17th. They set a “buy” rating and a $30.00 price target for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $22.60.

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.