OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in AxoGen, Inc. (NASDAQ:AXGN)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,428 shares of the medical equipment provider’s stock after selling 1,235 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in AxoGen were worth $2,314,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Driehaus Capital Management LLC increased its position in shares of AxoGen by 166.0% during the fourth quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider’s stock worth $15,729,000 after purchasing an additional 595,579 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in AxoGen by 2,912.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock valued at $7,697,000 after buying an additional 530,775 shares in the last quarter. First Light Asset Management LLC grew its holdings in AxoGen by 10.2% in the 4th quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider’s stock valued at $74,272,000 after buying an additional 416,499 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of AxoGen in the 4th quarter valued at $4,943,000. Finally, Raymond James Financial Inc. acquired a new position in shares of AxoGen in the 4th quarter valued at $4,552,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

AxoGen Stock Performance

NASDAQ AXGN opened at $11.39 on Tuesday. AxoGen, Inc. has a fifty-two week low of $5.65 and a fifty-two week high of $21.00. The stock has a market cap of $518.64 million, a price-to-earnings ratio of -35.59 and a beta of 1.19. The business has a fifty day moving average of $16.61 and a 200-day moving average of $16.32. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

Insider Transactions at AxoGen

In other news, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the sale, the director now owns 97,899 shares of the company’s stock, valued at $1,959,937.98. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction 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 approximately $3,810,835. This represents a 6.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

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.