AxoGen, Inc. (NASDAQ:AXGN) Stock Position Reduced by Geode Capital Management LLC

Geode Capital Management LLC lessened its position in AxoGen, Inc. (NASDAQ:AXGN) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,006,996 shares of the medical equipment provider’s stock after selling 3,512 shares during the period. Geode Capital Management LLC owned approximately 2.29% of AxoGen worth $16,600,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC raised its stake in shares of AxoGen by 119.3% in 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 in the last quarter. Principal Financial Group Inc. bought a new stake in AxoGen in the third quarter worth approximately $207,000. State Street Corp raised its stake in shares of AxoGen by 11.9% in the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after acquiring an additional 95,051 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of AxoGen by 2,912.3% in the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock valued at $7,697,000 after purchasing an additional 530,775 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in AxoGen by 63.7% during the 4th quarter. New York State Common Retirement Fund now owns 69,629 shares of the medical equipment provider’s stock valued at $1,147,000 after purchasing an additional 27,101 shares during the period. Institutional investors own 80.29% of the company’s stock.

Analyst Upgrades and Downgrades

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

AxoGen Price Performance

NASDAQ:AXGN opened at $15.57 on Monday. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $17.65 and a 200 day simple moving average of $16.13. AxoGen, Inc. has a 1-year low of $5.55 and a 1-year high of $21.00. The stock has a market capitalization of $690.44 million, a PE ratio of -48.66 and a beta of 1.00.

Insider Activity

In other news, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction dated Wednesday, March 19th. The shares were 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 $3,810,835. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $20.02, for a total transaction of $100,100.00. Following the sale, the director now owns 97,899 shares of the company’s stock, valued at approximately $1,959,937.98. This represents a 4.86 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.

About AxoGen

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.