Driehaus Capital Management LLC lifted its stake in shares of AxoGen, Inc. (NASDAQ:AXGN – Free Report) by 166.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 954,439 shares of the medical equipment provider’s stock after acquiring an additional 595,579 shares during the period. Driehaus Capital Management LLC owned 2.17% of AxoGen worth $15,729,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake 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 period. Barclays PLC increased its holdings in shares of AxoGen by 119.3% during the 3rd quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock worth $1,010,000 after buying an additional 39,182 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of AxoGen during the 4th quarter valued at approximately $188,000. New York State Common Retirement Fund grew its position in AxoGen by 63.7% in the fourth quarter. New York State Common Retirement Fund now owns 69,629 shares of the medical equipment provider’s stock worth $1,147,000 after acquiring an additional 27,101 shares during the period. Finally, Calamos Advisors LLC acquired a new stake in AxoGen during the fourth quarter worth $523,000. Institutional investors and hedge funds own 80.29% of the company’s stock.
AxoGen Stock Down 22.9 %
Shares of NASDAQ:AXGN opened at $12.63 on Friday. The firm has a market capitalization of $575.15 million, a PE ratio of -39.47 and a beta of 1.19. AxoGen, Inc. has a 1 year low of $5.65 and a 1 year 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 firm’s 50-day moving average is $16.89 and its two-hundred day moving average is $16.30.
Insider Activity
In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s 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 sale, the director now directly owns 97,899 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on AXGN shares. 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 reiterated an “overweight” rating and set a $24.00 price target on shares of AxoGen in a research report on Wednesday, March 5th. Finally, Lake Street Capital started coverage on shares of AxoGen in a research note on Monday, March 17th. They issued a “buy” rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $22.60.
Read Our Latest Report on AxoGen
AxoGen 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.
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