Silvercrest Asset Management Group LLC Lowers Position in AxoGen, Inc. (NASDAQ:AXGN)

Silvercrest Asset Management Group LLC lowered its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 583,580 shares of the medical equipment provider’s stock after selling 5,725 shares during the period. Silvercrest Asset Management Group LLC owned approximately 1.33% of AxoGen worth $9,617,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Divisadero Street Capital Management LP increased its position in shares of AxoGen by 2.7% during the 4th quarter. Divisadero Street Capital Management LP now owns 26,972 shares of the medical equipment provider’s stock valued at $444,000 after purchasing an additional 700 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AxoGen by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider’s stock valued at $398,000 after purchasing an additional 926 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of AxoGen by 8.3% during the 4th quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider’s stock valued at $264,000 after purchasing an additional 1,228 shares during the last quarter. Rhumbline Advisers increased its position in shares of AxoGen by 2.7% during the 4th quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider’s stock valued at $960,000 after purchasing an additional 1,521 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of AxoGen during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AXGN shares. Canaccord Genuity Group reduced their price objective on AxoGen from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Lake Street Capital started coverage on AxoGen in a research report on Monday, March 17th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $22.20.

Insider Buying and Selling

In other news, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the sale, the insider now directly owns 217,762 shares in the company, valued at approximately $3,810,835. This trade represents a 6.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction that occurred 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 in the company, valued at approximately $1,959,937.98. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.78% of the stock is owned by corporate insiders.

AxoGen Price Performance

AXGN opened at $11.83 on Friday. The stock’s 50 day simple moving average is $16.13 and its 200 day simple moving average is $16.23. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. AxoGen, Inc. has a 1 year low of $5.90 and a 1 year high of $21.00. The firm has a market cap of $538.79 million, a price-to-earnings ratio of -36.97 and a beta of 1.19.

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.